Problem #$1$: Journal Entries, Ledgers, Trial Balance, and Financial Statements

Bob Sample opened the Campus Laundromat on September $1,2024.$ During the first month

of operations, the following transactions occurred.

Sept. $1$ Bob invested $$25,000$ cash in the business.

$2$ The company paid $$3,000$ cash for store rent for September.

$3$ Purchased washers and dryers for $$40,000,$ paying $$15,000$ in cash and signing

a $$25,000,6-$month, $12\%$ note payable.

$4$ Paid $$2,400$ for a one$-$year accident insurance policy.

$10$ Received a bill from the Daily News for online advertising of the opening of

the laundromat $$600.$

$20$ Bob withdrew $$1800$ cash for personal use.

$30$ The company determined that cash receipts for laundry services for the

month were $$8,200.$

Instructions

$($a$)$ Journalize the September transactions.

$($b$)$ Open ledger $($T$$ accounts$)$ and post the September transactions.