The following transactions took place in the first month of the company;

1 April. Owner invested: cash, $26,200; accounts receivable, $6,000; goods $11,200; consumables, $2,800; and office equipment, $25,000.

1. He paid three months' rent upfront, $9,600.

2. He paid $3,600 upfront for six months of insurance policy premiums.

4. Cash received from customers as an advance for future services, $10,000.

5. XYZ Co. purchased $4,000 worth of goods into his account.

6. Received cash on account from customers, $3,600.

10. Cash for a magazine ad, $240.

12. On April 5, he paid XYZ Co. $2,400 for a portion of the accrued debt.

12. Services provided in the $8,400 account.

14. He paid the worker a two-week wage of $1,500.

17. Cash collected from cash customers for wages earned in the first half of the month, $13,500.

18. Cash for supplies, $1,600.

19. He sold the goods for $6,000 in cash.

20. Registered services provided on account for $4,200.

27. He paid the worker a two-week wage of $1,500.

29. Sold goods for $9,000 on account.

30. Owner withdrew $6,000 for personal use.

Instructions

1. Log every transaction. (Use the Periodic Inventory Method and the duration is one month)

2. Post the log to a general ledger.