Question
George Hoskin started his own business, Hoskin Hauling on July 1, 2021. The following transactions occurred in the first two weeks: George Hoskin contributed cash
George Hoskin started his own business, Hoskin Hauling on July 1, 2021. The following transactions occurred in the first two weeks: George Hoskin contributed cash of $12,000 and a truck worth $10,000 to start the business. He received Common Stock in return. Paid two months' rent in advance, $800. Agreed to do a hauling job for a price of $1,200. Performed the hauling job discussed in C. We will get paid later. Received payment of $600 on the hauling job done in D. Purchased gasoline on credit, $50. Performed another hauling job. Earned $750, was paid cash. Required: Record the following transactions (journal entries or T-accounts). Label each entry with the appropriate letter. Total the transactions when you are done. Prepare an unadjusted trial balance as at July 31, 2021.
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