On November $6,$ Trayton Eli withdrew $$100,000$ from personal savings and deposited it in a new business checking account for Eli's Consulting Services.

On November $7,$ Eli's Consulting Services issued Check $1001$ for $$5,000$ to purchase a computer and other equipment.

On November $10,$ Eli's Consulting Services purchased office equipment on account from Office Plus for

$$6,000.($Invoice $2223$ due in $60$ days$).$

On November $28,$ Eli's Consulting Services purchased supplies for $$1,500,$ Check $1002.$

On November $30,$ Eli's Consulting Services paid Office Plus $$2,500$ in partial payment of Invoice $2223,$ Check $1003.$

On November $30,$ Eli's Consulting Services wrote Check $1004$ for $$8,000$ to prepay rent for December and January.

During December, performed services for $$36,000$ in cash.

During December, performed services for $$36,000$ in cash.

During December, performed services for $$36,000$ in cash.

During December, received $$6,000$ in cash from credit clients on their accounts.

During December paid monthly salaries to employees, $$8,000,$ Checks $1005-1006.$

During December, paid $$650$ for a utility bill, Check $1007.$

During December, the owner withdrew $$5,000$ for personal expense, Check $1008.$

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Requirement

General

General

Trial Balance

tncome

Statement of

Statement

Owners Equity

Balance Sheet

Accounting

Journal

Ledger

Equation

$75\%$ of available points $-$ General Journal Tab $-$ For each transaction, prepare the required journal entry on the General Joumal tab. List debits before credits.

No input required$-$General Ledger Tab $-$ One of the advantages of general ledger software is that posting is done automatically. To see the detail of all transactions that affect a specific account, or the balance in an account at a specific point in time, click on the General Ledger tab.

No input required $-$ Trial Balance Tab $-$ General ledger software also automates the preparation of trial balances. A trial balance lists each account from the General Ledger, along with its balance, either a debit or a credit. Total debits should always equal total credits.

No input required $-$Income Statement, Statement of Owner's Equity, Balance Sheet Tabs $-$ General ledger software No input required$-$Income Statement, Statement of Owner's Equity, Balance Sheet Tabs $-$ General isdger sofware end of the accounting period. In an automated system, the financial statements are updated after each transaction. has on the fundamental accounting equation. For each transaction, indicate the impact the item has on the accounting equation.