Manny Gill is an entrepreneur who started West Secure, a business that provides a number of security guard services. West Secure incurred the following transactions during July 2020, its first month of operations:

July1The owner, Manny Gill, invested $4,200 cash.10Purchased $1,700 worth of security equipment on credit.12Performed security services for a sold-out concert and received $10,000 cash from the client.14Paid for expenses; $2,700.15Completed security services for a graduation event and sent the client a bill for $1,100.31The owner withdrew $170 cash for personal use.

Required:

2.Record the journal entries for the month of July.

1 & 3.Post the July journal entries into your general ledger accounts. Include the date next to each number posted. Determine the balances.

4 .Do a trial balance using the balances in your general ledger accounts.

5.Do a income statement, statement of changes in equity, and balance sheet based on your trial balance.

This is the transaction list for the journal entry worksheet

1

• Record the investment by owner
• 2
• Record the purchased equipment on credit.
• 3
• Record the performed services for cash.
• 4
• Record the paid expenses.
• 5
• Record the completed services on account.
• 6
• Record the owner withdrew cash.