HI I need help what is the answer for letters C and D. A and B are given already. I hope that you can help me
Fay Fedor started a delivery service, Fed Deliveries, on July 1, 2018. The following transactions occurred during the month of July: July 1 She contributed P 100,000 cash 2 Purchased a used van for deliveries for P 120,000 by paying P 20,000 cash and signed a two-year notes payable for the remaining balance 3 Paid P 15,000 for office rent for the month 5 Delivery services amounted to P 44,000. Half on account 9 Cash of P 2,000 withdrawn by Fay 12 Purchased supplies for P 1,500 on account 15 Received cash of P 12,500 for services provided on July 5 17 Purchased gasoline for P 7,500 on account 20 Received P 15,000 from customers of which P 5,000 was for past accounts 23 Made cash payment of P 25,000 on the note payable 26 Received bills for utilities P 5,000 but paid only P 2,500 29 Paid for the gasoline purchased on account on July 17 30 Paid P 30,000 for employees salaries. A third of supplies remained on hand Requirements: a. Open your own Chart of Accounts b. Analyze the transactions above and journalize your entries in a General Journal c. Open your General Ledger based on the Charts of Accounts you have made d. Extract the balance and prepare the Trial BalanceGeneral Journal PAGE 1 DATE ACCOUNT TITLE PR DEBIT CREDIT 2018 JULY 1 Cash 101 100,000.00 Fay Fedor, Capital 301 100,000.00 (to record capital investment) JULY 2 Vehicle 104 120,000.00 Cash 101 20,000.00 Notes Payable 202 100,000.00 (to record purchase of used van by cash and account) JULY 3 Office Rent Expense 501 15,000.00 Cash 101 15,000.00 (to record payment for rent) JULY 5 Cash 101 22,000.00 Accounts Receivable 102 22,000.00 Service Revenue 401 44,000.00 (to record delivery services by cash and account)\fFed Deliveries Chart of Accounts Asset No Liabilities No Owners Equity No Revenue No Expense No (101- 104) (201 - 202) (301 - 302) ('401) (501 - 505) Cash 101 Accounts Payable 201 Fay Fedor, Capital 301 Service Revenue 401 Office Rent Expense 501 Accounts Receivalbe 102 Notes Payable 202 Fay Fedor, Withdrawals 302 Gasoline Expense 502 Supplies 103 Utilities Expense 503 Vehicle 104 Salaries Expense 504 Supplies Expense 505\fJULY 12 Supplies 103 1,500.00 Accounts Payable 201 1,500.00 (to record supplies on account) JULY 15 Cash 101 12,500.00 Accounts Receivable 102 12,500.00 (to record collection on account) JULY 17 Gasoline Expense 502 7,500.00 Accounts Payable 201 7,500.00 (to record gasoline fee on account) JULY 20 Cash 101 15,000.00 Service Revenue 401 10,000.00 Accounts Receivable 102 5,000.00 (to record collection on service rendered and on account)16 JULY 23 Notes Payable 202 25,000.00 Cash 101 25,000.00 18 (to record payment for note) 19 50 JULY 26 Utilities Expense 503 5,000.00 Cash 101 2,500.00 Accounts Payable 201 2,500.00 (to record payment for utilities on cash or on account 55 JULY 29 Accounts Payable 201 7,500.00 Cash 101 7,500.00 (to record payment on account)
