Problem 3.16 Journal entries, posting to ledger, and trial balance Non-GST version On 1 July 2021 Tanya Arthur opened a hairdressing salon. The following transactions occurred during the first month of operations (ignore GST). July 2 July 2 July 3 July 4 July 6 July 16 July 20 July 23 July 28 July 31 July 31 wwww Arthur invested $120,000 in the business by depositing cash into a business cheque account with the Eastpac Bank. Paid $1,800 for the first month's rent. Purchased equipment by an online bank transfer for $32,000 and signed a commercial loan agreement for $38,000. Purchased supplies for $8,400. Paid advertising expense of $1,230. Recorded services revenue for the first half of the month of $3,250 in cash and $620 on credit. Paid insurance expense for July of $480 using an online bank transfer. Received a $200 payment from customers who paid on credit in the first half of the month. Arthur withdrew $560 cash for personal living expenses. Recorded revenue for second half of the month of $3,680 in cash and $580 on credit. Paid telephone account of $440 by electronic transfer. Use the following account titles and numbers: Cash at Bank, 100; Accounts Receivable, 101; Supplies, 102; Equipment, 103; Loan Payable, 200; Tanya Arthur, Capital, 300; Tanya Arthur, Drawings, 301; Revenue, 400; Rent Expense, 500; Advertising Expense, 501; Insurance Expense, 502; Telephone Expense, 503. Required (a) Prepare the general journal entries to record the transactions. (b) Post the entries from the general journal to the general ledger accounts (running balance format) and enter the posting references in the general journal. (c) Prepare a trial balance as at 31 July 2021. (LO3, LO4 and LO5)