General Electric Company
Enter the following transactions in the appropriate accounts:
20X7
Jul 1 Started business with $65,000 cash.
Jul 2 Paid $58,500 of the opening cash into the bank.
Jul 4 Bought goods on credit $5,500 from W. Wright.
Jul 5 Bought a delivery truck by cheque $26,000.
Jul 7 Bought goods for cash $2,800.
Jul 10 Sold goods on credit $6,000 to L. Taylor.
Jul 12 Returned goods to W. Wright $1,300.
Jul 19 Sold goods for cash $1,700.
Jul 22 Bought office supplies on credit from Office Depot $7,000.
Jul 24 J. Scott lent us $5,500 paying us the money by cheque.
Jul 29 We paid W. Wright his account by cheque $4,700.
Jul 31 We paid Office Depot by cheque $7,000.