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Question 2 (30 marks; 60 minutes) Girard Cohen began a computer servicing business, Cohen Technologies. During the month of October 2021 Cohen completed these transactions:
Question 2 (30 marks; 60 minutes) Girard Cohen began a computer servicing business, Cohen Technologies. During the month of October 2021 Cohen completed these transactions: October 1 Began business by investing cash, $12,000, and computer equipment, $3,000. October 3 Paid insurance for one year in advance, $6,000. October 4 Purchased office supplies on credit, $500. October 6 Completed a computer servicing assignment and billed the client for $3,000. October 9 Paid the utilities bill for the month, $100. October 12 Completed work for a client and received $4,000 cash. October 17 Paid for the office supplies purchased on October 4. October 22 Received a partial payment of $1,500 from the client billed on October 6. October 23 Purchased computer equipment for $5,000 by paying $500 cash and signing a note payable for the balance. October 31 Wrote a $1,000 cheque on the business bank account for personal expenses. Required - Using the worksheets provided 1. Prepare journal entries to record the above transactions. Post the entries to the General Ledger accounts. Complete the trial balance on October 31, 2021. 2. 3
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