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Rose Company started its operations on January 1, 2019. The following transactions took place during the first month of operations: January 1: Rose invests $2,300,000
Rose Company started its operations on January 1, 2019. The following transactions took place during the first month of operations: January 1: Rose invests $2,300,000 cash to start the business. January 5: Purchased furniture for $248,000, paying $48,000 in cash and sign a note for the remaining balance. January 9: Purchased office supplies for $10,000 on credit. January 12: Paid $22,000 cash for January rent. January 16: Paid $2,700 cash for office supplies purchased on January 9. January 22: Services billed to customers amount to $48,000. January 23: Received utility bills for $5,250 for the month of January. January 27: Paid $23,700 cash as salaries for the month. January 29: Rose withdrew $7,800 from the business for personal use. January 31: Received $33,000 cash from customers in payment for services billed on January 22. Required: 1- Prepare Journal entries to record the above transactions. 2- Post to the appropriate ledger accounts. 3- Prepare the trial balance on January 31, 2019. 4. Prepare the financial statements of Rose Company on January 31, 2019
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