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Students are to -1 Journalize the transactions listed below into a General Journal. -2 Post the transactions into a General Ledger. -3 Prepare a Trial
Students are to -1 Journalize the transactions listed below into a General Journal. -2 Post the transactions into a General Ledger. -3 Prepare a Trial Balance to prove journalizing and posting is done correctly. Journal paper, ledger accounts and a blank trial balance is given below the transactions. Transactions for Sully Company for the month of July, 2023. July 245691014171820Ownerinvested$40000cashand$25000vehicleintohisbusiness.Purchasedequipmentfor$25000onabankloan.Paid$5000cashforofficefurnitureProvidedservicesfor$5000cash.Providedservicesfor$3000onaccounttoacustomerOwnerwithdrewcashforpersonalusefromthebusinessfor$2000.Businesspaidoffsomeoftheaccountpayablefor$1000.Customerpaid$3000offhisaccountfromJuly9.Purchasedmoreequipmentfor$40000bypaying$10000cashandborrowingthebalance.Boughtsuppliesfor$400cash 2 Owner invested $40000 cash and $25000 vehicle into his business. Purchased equipment for $25000 on a bank loan. Paid $5000 cash for office furniture Provided services for $5000 cash . Provided services for $3000 on account to a customer Owner withdrew cash for personal use from the business for $2000. Business paid off some of the account payable for $1000. Customer paid $3000 off his account from July 9. Purchased more equipment for $40000 by paying $10000 cash and borrowing the balance. Bought supplies for $400 cash
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