K.C.A 1. Frank Arzillo opened the Arzillo TV Repair Shop on November 1. On the form at the end of this review sheet, journalize the November transactions, using appropriate accounts. Nov. 1 Arzillo invested $5000 cash in the business. 1 Borrowed $6000 from Royal Bank 2 Purchased equipment for $4000 (analysis kit). Cheque 1. 4 Received $ 700 cash for repair services performed during the week, Cash Sales Slips 1-5. 5 Paid $300 for advertising in the Kingston Whig Standard, Cheque 2. 6 Charged supplies worth $300 with Electronics Co. Ltd., Invoice 4264. 8 Repaired a TV set for V. Milligan, who will pay the $40 fee at a later date, Invoice 1, 9 Paid $100 to reduce the amount owing to Electronics Co. Ltd., Cheque 3. 10 Bought a $17 000 station wagon for the business. Paid $3000 as a down payment to Learn Motors, Cheque 4. The balance owing is $14 000 15 Received $40 from V. Milligan for Invoice 1 K. C 2. Explain the following terms. journal: journalizing: KC 3. List the four steps followed in recording a journal entry. K.C 4. What are the advantages of using a journal? GENERAL JOURNAL PACE DATE PARTICULARS P. DERIT CREDIT