Question
Prepare (1) the ledger accounts (2) the trial balance; if company XYZ has the following transactions. On January 1, received $50,000 cash from a bank
Prepare (1) the ledger accounts (2) the trial balance; if company XYZ has the following transactions.
On January 1, received $50,000 cash from a bank loan
On January 2, purchased $10,000 of office equipment on credit from ABC Corporation
On January 3, purchased $5,000 of raw materials on credit from DEF Corporation
On January 4, sold $20,000 of finished goods on credit to GHI Corporation
On January 5, paid $3,000 in wages to employees
On January 6, received $2,000 cash from a customer as a deposit for future services
On January 7, paid $1,500 to suppliers for outstanding bills
On January 8, received $4,000 as a refund from a supplier for defective goods
On January 9, paid $2,500 as rent for the office space
On January 10, received $6,000 as payment from a customer for goods sold on credit
On January 11, paid $1,000 as interest on the bank loan
On January 12, sold a piece of equipment for $5,000, resulting in a $1,000 gain
On January 13, purchased $3,000 of office supplies for cash
On January 14, received $1,500 in cash as a dividend from an investment
On January 15, paid $2,000 as an insurance premium for the company's assets
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