General Journal entries are needed as well as Ledger and Trial Balances.

Module 4 Homework 13. REQUIRED, Three Steps: Prepare General Journal entries using good form (not T - Accounts) for the following events on the page that follows. Note, these are the same transactions as homework problems 8 and 12 B, Create the appropriate T-accounts and post the transactions to the accounts C. Prepare a Trial Balance. Blank forms are provided on the following pages for the General Journal, General Ledger and Trial Balance. Events to journalize: a) Paul, the owner placed $1,200 cash in the company checking account from his own personal account. b) Paul convinces his brother to loan the business $2,000 and required Paul to sign a note. The principal of the note is $2,000 at a 5.85% rate for one year. Payments are $172.00 a month. c) Paul performed consulting services for a client on open account in the amount of $265 d) P e) Purchased $210 of supplies on open account. urchased a new computer $1,455 with $200 cash and signed a note for the difference. f) Hired a new employee. Will be paid $500 per week. g) Performed services of $400 for a client who was short of cash and they had to sign a note. The note is a 2 month note with the $400 as principal and includes an interest charge of 8% APR. h) The customer in c. above paid $165 on account. i) Returned $30 of the supplies purchased in e. above to the supplier. i) The owner drew $20 cash out of the business to go buy some pizza with. k) Received a $175 bill for the current month's gas service. It is not due for 20 days. The employee had worked one week earning $500, was fired and paid on the last day of the pay l) m) Paid for the remainder of the supplies purchased in e. above. Remember some were returned. n) Collected $400 plus interest from the note in g. above. The payment received consisted of principal and interest and was collected all in one payment. Round the interest to the nearest whole dollar. o) Made the first $172 monthly payment on the note in b. above. The monthly payment consists of principal and interest. Round the interest amount up to a whole dollar amount. p) Paul performs consulting services and is paid in cash, $300. q) Paul notes that $120 of the supplies have been used up. General Journal-Use for Homework #13 Date Account Debit Credit Module Homework 4-7