Q. 4) In September 2016, Niem Duong opened a car hire business. The following transactions occurred during the first month of the business (ignore GST). (10 marks) Sep. 1 Niem opened a bank account to begin the business and deposited $500 000 of her own money. 3 4 5 15 18 19 24 27 29 30 Paid $1200 rent for the premises for September. Purchased ten motor vehicles costing $40 000 each and equipment costing $36 000 with $300 000 cash and a commercial loan for the balance. Purchased supplies costing $12 500 on credit. Recorded revenue for the first half of the month of $14 600 in cash and $28 500 on credit. Paid for supplies purchased on 5 September. Paid insurance expense for September of $5000. Received payment from customers on account of $12 400 and banked the receipts. Purchased supplies costing $6200 on credit. Recorded revenue for the second half of the month of $12 500 in cash and $32 800 on credit. Paid fuel expense of $16 200 in cash. 125 Use the following account titles and numbers: Cash at Bank, 1-101 Accounts Receivable, 1-102 Supplies, 1-110 Equipment, 1-120 Motor Vehicles, 1-130 Accounts Payable, 2-101 Loan Payable, 2110 N. Duong, Capital, 3-101 Revenue, 4-101 Rent Expense, 5-110 Insurance Expense, 5-120 Fuel Expense, 5-130 Required: a) Journalise the above transactions. b) Post the entries from the general journal to running balance general ledger accounts and enter the posting references in the general journal. c) Prepare a trial balance as at 30 September 2016