Question 3

Noor and Noor Consulting Services starts its business operation in March 1, 2019 with the following account (beginning) balances:

Cash	$ 50,000
Equipment	30,000
Owners Capital	80,000

During the first month of operation, the company recorded the following business transactions:

1. Purchased ofice supplies on account for $9,000.

2. Billed customers $5,000 for services performed.

3. Made payment of $2,300 on account for office supplies purchased in (1).

4. Collected $4,000 on customer accounts from transaction in (2).

5. Paid $500 salary to a part-time assistant.

Instructions:

1. Journalize the above transactions for Noor and Noor Consulting Services. (5 marks)
2. From the journal entries in part a) above, prepare a trial balance for the company for June 2017. (6 marks)