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Section C (10 Marks Cil. Transactions of Sultan Company for the month of Jamuary 2018 are prescned below: 1. The owner invested $450,000 to start
Section C (10 Marks Cil. Transactions of Sultan Company for the month of Jamuary 2018 are prescned below: 1. The owner invested $450,000 to start his business. 2. Purchased equipment for $54,000, will be paid after 10 days. 3. Purchased paying $13,500 cash and the remaining amount supplies on account for $3,600. 4. Received a bill for S1,350 for advertising of the current month. 5. Invested additional $180,000 cash in the business. 6. Services billed to customers amounted to $22,500. 7. Paid $11,250 as salaries of the month. 8. The owner withdrew $1,575 cash from the business for his personal use. -Prepare journal entries to record the above transactions. (5 marks) 2- Post to the appropriate ledger accounts. (3 marks) 3- Prepare the trial balance on January 31, 2018. (2 marks) Required: 1
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