Task:

1. Create journal entries for the following transactions;

2. Draw up a T-account for each account affected by transactions;

3. Calculate normal balances for all T-accounts.

4. Prepare an unadjusted trial balance.

1. Create journal entries for the following transactions, 2. Draw up a T-account for each account affected by transactions; 3. Calculate normal balances for all T-accounts. 4. Prepare an unadjusted trial balance. Transactions: January, 1: Student Co. received fees earned from customers, $ 20,000; January, 2: Purchased office equipment on credit, $45,000; January, 3: Received utilities bill, $2,700; January, 6: The owner invests $270,000 cash into business; January, 8: Purchased office supplies on account, $2,500; January, 9: Purchased land for a future building site, $80,000; January, 13: Paid office rent for one month, $15,500; January, 16: Received cash $4,100 from a customer for interest earned; January, 19: The owner withdraws $3,000 from the business; January, 20: Purchased inventory, $11,000; January, 21: Paid creditors on account, $5,500; January, 24: Paid tax expense, $5,000; January, 25: Services provided on account, $23,000; January, 28: Paid creditors on account, $20,000; January, 29: Paid salaries, $23,900. January 30, Received $10,000 on account from customers. Journal Description Date Post. Ref. Debit Credit Focus Ledger Add more T-accounts if needed. Student Co. Unadjusted Trial Balance January 30, 2020 Debit Balances Credit Balances