Question
Post the account balances, journalize the following transactions, post to the ledger, and complete the trial balance The L&L Accounting Firm The May 31, 20XX,
Post the account balances, journalize the following transactions, post to the ledger, and complete the trial balanceThe L&L Accounting Firm The May 31, 20XX, post-closing trial balance for
During June, the firm engaged in the following transactions:
1 Received an investment of cash from J. Long, $8,000.
3 Purchased office equipment with on account, $2,500.
7 Purchased extra office supplies with cash, $200
9 Completed bookkeeping services for Elliott Electric Company that amounted to $1,400 (payment to be received at a later date)
10 Paid the receptionist in cash for two weeks wages, $1,500
13 Paid the amount due to Office Depot for the office equipment purchased last month, $800
14 Accepted an advance in cash for services to be done for a new client, $2,500
16 Performed consulting services and received a cash fee, $1,500.
17 Received payment on account from Sallys Salon for services performed last month, $3,200.
18 Paid amount due for the telephone bill that was received and recorded at the end of May, $260.
19 Performed consulting services for Sallys Salon and agreed to accept payment next month, $4,600.
20 Performed bookkeeping services for cash, $780.
23 Received and paid the utility bill for June, $340.
27 Paid the rent for July in advance, $2,000.
28 Received the telephone bill for June, which is to be paid next month, $220.
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