Question
Q. 2. Bob Sample opened Campus Laundry on September 1, 2015. During the first month of operations the following transactions occurred. September 1: Stockholders invested
Q. 2. Bob Sample opened Campus Laundry on September 1, 2015. During the first month of operations the following transactions occurred.
September 1: Stockholders invested 80,000 SR cash in the business.
September 2: Cash deposited into Commercial Bank SR 15,000.
September 3: Paid 2,500 SR cash for store rent for the month of September.
September 4: Purchased washers and dryers for 45,000 SR
September 6: Paid 2,800 SR for one-year insurance policy.
September 20: Declared and paid a 2,900 SR cash dividend to stockholders.
September 30: Determined that cash receipts for laundry fees for the month were 25,200 SR.
Instructions:
- Journalize the September transactions.
- Open ledger accounts from the September transactions.
- Prepare a trial balance at September 30, 2015.
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