Q3.

Required: Prepare the journal entries and post to necessary ledger accounts for the below transactions of Teta Co.

a) Opened a bank account and deposited $ 15,000. b) Purchased goods for $ 19,500 from Delta Co. by issuing a daily check for $ 4,500, rest is on account. c) Sold goods for $ 15,000 to Lambda Co. by receiving a maturity check for $ 10,000, rest is on account. d) Received a promissory note from Lambda Co. for the rest of receivables. e) Endorsed the check and the promissory note to Delta Co.