B C D F G H E Journal page 1 Post. Ref. Date Description Debit Credit 1 2 3 4 5 6 7 8 19 20 21 22 23 24 25 A B D E F H 26 27 28 29 30 31 32 33 34 Cash Post. Ref. Debit Account #11 Balance Debit Credit Item Credit 35 Date 36 37 38 39 40 41 42 43 44 45 46 47 48 49 Account #12 Balance Credit Credit Debit 50 Accounts receivable Post. 51 Date Item Ref. Debit 52 53 54 55 56 Supplies Post. 57 Date Item Ref. Debit 58 59 Account #13 Balance Debit Credit Credit 60 61 Prepaid insurance Post. Ref. Debit Account #14 Balance Credit Credit Debit 62 Date Item 63 64 65 66 Equipment Post. Ref. Debit Account #16 Balance Credit Item 67 Date 68 Credit Debit 69 7 71 Land Post. Ref. Debit Account #17 Balance Debit Credit Credit 72 Date Item 73 74 75 76 Accounts payable Post Ref. Debit Account #21 Balance Credit Item Credit Debit 77 Date 78 79 80 3 81 82 Notes payable Post. Ref. Debit Account #23 Balance Debit Credit Credit 83 Date Item 84 85 86 87 Common Stock Post Ref. Debit Account #31 Balance Debit Credit Item Credit 88 Date 89 90 01 Dividends Post. Ref. Debit Account #33 Balance Credit Date Item Credit Debit Fees Eamed Post. Ref. Debit Account #41 Balance Debit Credit 3 Date Item Credit N- Account #51 Balance Credit Credit Debit 1 2 3 Salary and commission expense Post. 4 Date Item Ref. Debit 05 06 07 8 Rent expense Post. 09 Date Item Ref. Debit 10 11 12 Problem ne Account #52 Balance Credit Credit Debit Problem Tu Account #53 Balance Debit Credit Credit 113 Advertising expense Post 114 Date Item Ref. Debit 115 116 117 118 Miscellaneous expense Post 119 Date Item Ref. Debit 120 Account #59 Balance Debit Credit Credit 121 122 123 124 Thompson Travel Unadjusted Trial Balance August 31, 2020 125 126 127 128 129 130 131 132 133 134 135 136 Thompson Travel Unadjusted Trial Balance August 31, 2020 $0 $0 Problem Two (50 points) On August 1, 2020, Hunter Thompson established a travel agency, Thompson Travel. During the month. Hunter completed the following transactions related to the business August 1. Hunter transferred cash from a personal checking account to an account to be used by the business in exchange for common stock, $36,300. 2. Paid rent for period of August 1st to the end of the month, $7,000 3. Purchased equipment on account, $11,000. 5. Paid annual insurance premiums, $4,800. 10. Recorded jobs completed on account and sent invoices to customers, $52,000 15. Purchased land for a future building site for $90,000 paying $10,000 in cash and giving a note payable for the remainder 17. Received cash for job completed, $17,700. 23. Paid advertising expense. $2,050. 27. Paid creditors on account, $9,100. 28. Purchased supplies for cash, S1,675. 29. Paid miscellaneous expenses, $390. 30. Received cash from customers on account, $48,400. 31. Paid salaries and commissions for the month, $24,000. 31. Paid dividends of $7,500. Instructions 1. Journalize the transactions for August in the journal provided in the Excel template numbered Page 1. Please refer to the following chart of accounts in selecting the accounts to be debited and credited Journal entry explanations may be omitted. 11 Cash 31 Common stock 12 Accounts receivable 33 Dividends 13 Supplies 41 Fees earned 14 Prepaid insurance 51 Salary and commission expense D Instructions 1. Joumalize the transactions for August in the journal provided in the Excel template numbered Page 1. Please refer to the following chart of accounts in selecting the accounts to be debited and credited. Journal entry explanations may be omitted, 11 Cash 12 Accounts receivable 13 Supplies 14 Prepaid insurance 16 Equipment 17 Land 21 Accounts payable 23 Notes payable 31 Common stock 33 Dividends 41 Fees earned 51 Salary and commission expense 52 Rent expense 53 Advertising expense 59 Miscellaneous expense 2. Post the journal to a ledger of four-column accounts, provided in the Excel template, inserting appropriate dates and posting references as each item is posted. Also, extend the balances to the appropriate balance columns after each transaction is posted. 3. Prepare an unadjusted trial balance for Thompson Travel as of August 31, 2020, on the space provided in the Excel template
