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Kindly assist with the Journal Entry, General Ledger Entries, and the Trial Balance. Please do it in table format and not in sentences, Thank you
Kindly assist with the Journal Entry, General Ledger Entries, and the Trial Balance. Please do it in table format and not in sentences, Thank you for your assistance in advance.
During the month of December 2022 , the follorsing transactions took place in a newly established sole trader business (each group will need to give this business a name): December 1 Rented building for $60,000 per month, paying cash to the landlord. December 1 Commenced business with $500,000 in the bank, $200,000 cash, motor vehicle valued at $1,500,000, and a computer valued at $200,000. December 2 Purchased goods from L. Matheson on crodit for 5320,000 . December 3 Paid insarance for the motor vehicle using cash amounting to $50,306. December 5 Sold goods to P. Jarrett for cash amounting to $200,000. December 5 Returned goods to L. Matheson worth 58,500. December 6 Sold goods on credit to L. Frarer worth 580,000. December 9 Paid L. Matheson $200,000, using a cheque. December 15 Purchased goods valued at $100,000 from S. Small using a cheque. December 16 L. Frazer returned goods valued at $6,400. December 21 Sold good to S. Jones for $93,00 cash. December 22 Paid electricity bill amounting to $31,200 using a cheque. December 22 Paid telephone bill amounting to $10,400 using a cheque. December 23 Received \$73,600 cash from L. Frazer. December 23 The business owner withdraws cash valued at $30,000 to purchase Christmas gifts for their children, as well as goods valued at $20,000 to give to their other fanily members. December 31 Paid cash anounting to $9,304 for water bill. Note: At the end of December 31, 2022, there was stock valued at $270,000 in the business' storeroomStep by Step Solution
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