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Recording events in the general journal, posting it to T-accounts, and preparing trial balance The following events apply to Computer Services Inc. in the first

Recording events in the general journal, posting it to T-accounts, and preparing trial balance

The following events apply to Computer Services Inc. in the first year of operation:

  1. Acquired $40,000 cash from the issue of common s tock
  2. Earned $28,000 service revenue on account.
  3. Incurred $15,200 of operating expenses on account.
  4. Collected $26,400 cash from accounts receivable.
  5. Made a $13,600 payment to account payable
  6. Paid $2,000 casg dividend to sharehodlers.
  7. Received a $7,100 cash advance for services to be provided in the future.
  8. Purchased $1,600 of supplies on account
  9. Recognized $2,400 of revenue for services provided to the customer in Event 7.
  10. Recognized $1,200 of supplies expense
  11. Recorded $1,600 of accrued salary expense
  12. Reocgnized $450 of accrued interest revenue.

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