John grady started his business hy investing the following assets and liabilities. Post general journal entries to the ledger accounts prepare a trial balance in proper formThe Ledger

$($d$)$ Post the journal entries to the ledger accounts as illustrated in chapter

$($e$)$ Prepare a trial balance, comp

PRACTICE EXERCISE $4$

$($a$)$ Set up the following ledger accounts using the account numbers cated. All accounts will require only one sheet, marked Sheet $1,$ ither Bank, $101$; A$/$R S$.$ Canto, $110$; A$/$R Joonis

Ellen Nash, $112$; A$/$R Ronaldo Auto Sales, $113$; Cleaning Equipm ${11}_{1}120$; Store Fixtures, $130$; Delivery Equipment, $140$; A$/$P $B_0?$ Equipment Suppliers, $201$; A$/$P Bruce Auto Sales, $202$; A$/$P $D_{\text{a}\text{i}\text{l}}$ Press, $203$; Bank Loan Payable, $220$; Capit; Cleaning Supplies Expen $502$; Rent Expense, $503$; Salaries Expense, $504$; Telephone Expense $505$; Utilities Expense, $506.$

$($b$)$ Journalize the following transactions, complete with appropriate explanations, for Rainbow Rug & Furniture Cleaners.

$20-$

Oct. $1$ John Grady started his business by investing the following assets and liabilities: Bank, $$18,000$; Cleaning Equipment, $$8,000$; Store Fixtures, $$3,000$; and Bank Loan, $$5,000.($Calculate the Capita$]$ value needed to balance this transaction, then record the compound journal entry.$)$

$2$ Issued Cheque #$1$ to Deutsch Holdings for $$925$ to pay the October rent.

$2$ Bought truck for $$16,900$ from Bruce Auto Sales; paid $$6,900$ down; terms net $90$ days. Purchase Invoice #$773$; Cheque #$2.$

$4$ Bought additional cleaning equipment, $$3,000,$ and supplies, $$800,$ from Bondi Equipment Suppliers. Payment due in $10$ days. Purchase Invoice #$663.$

$5$ Received $$175$ from Tony Laicini for cleaning services provided to him today.

$7$ Sent an invoice to S$.$ Canto for cleaning services provided; terms net $10$ days; Sales Invoice #$01$; $$225.$

$9$ Placed newspaper advertisement in the Daily Press, to be paid in $10$ days, $$185.$ Purchase Invoice #$113.$

$11$ Sent an invoice to Ronaldo Auto Sales for $$425$ for cleaning carpets in the showroom; $10-$day credit terms; Sales Invoice #$02.$

$12$ Received $$195$ cash from Sally Ritchie for cleaning rugs and furniture in her home today.

$4$ Issued Cheque #$3$ for $$3,800$ to pay balance owing to Bondi Equipment Suppliers.

Received $$225$ from S$.$ Canto on Sales Invoice #$01.$

Post the general journal entries to the ledger accounts prepare a trail balance in proper form