general ledger

trial balance

July 2019 Transactions Description of the Transaction Date July 1 Borrow $35,000 from 1st Bank by signing a 24 month note. July 1 Invest $65,900 cash into the business. July 1 Purchase $34,500 of new computer equipment, paying cash. July 1 Pay $500 cash for the July office rental. July 3 Invoice a new customer $3,450 for a completed job-customer will pay in 10 days. July 5 Take a withdrawal of $26,000 cash. July 10 Complete a job for a new customer-customer pays $1,315 cash for the job. July 12 Collect $3,500 cash for a special rush job completed on May 31. July 14 Pay the employees $11,500 for work performed during the first 2 weeks of July. July 15 Purchase $880 of supplies. The supplies are consumed immediately. Connie's will pay for the supplies in about 2 weeks. July 15 Collect $3,450 on account. The cash that is received is from the new customer for the job that was completed on July 3. July 17 One of the original computers purchased in January of 2018 needed repair. The cost of the repair is $915. Connie's will pay for the service in 30 days. July 19 Purchase for cash $31,000 of supplies. These supplies will be consumed over the next 12 months. July 20 Collect $30,000 for work performed and invoiced in June. July 23 Receive an advance payment of $21,750 for consulting work to be performed from August 1, 2019 to January 31, 2020. July 25 Complete a consulting job; the total price for the work is $7,250. The customer pays $1,000 cash on this date and will pay the remainder on August 25. July 27 Pay $880 cash for the supplies purchased on July 15. July 28 Pay the employees $10,150 for work performed for the last 2 weeks of July. July 31 Invoice a client for $24,000 of work performed in July. The invoice will be paid on the 20th of next month