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The October transactions were as follows. Oct. 5 Received $1,300 in cash from customers for accounts receivable due. 10 Billed customers for services performed $5,100.
The October transactions were as follows. Oct. 5 Received $1,300 in cash from customers for accounts receivable due. 10 Billed customers for services performed $5,100. 15 Paid employee salaries $1,200. 17 Performed $600 of services in exchange for cash. 20 Paid $1,900 to creditors for accounts payable due. 29 Paid a $300 cash dividend. 31 Paid utilities $400. Instructions (a) Prepare a general ledger using T-accounts. Enter the opening balances in the ledger accounts as of October 1. (Hint: The October 1 beginning amounts are the September 30 balances in the trial balance above.) Provision should be made for these additional accounts: Dividends, Service Revenue, Salaries and Wages Expense, and Utilities Expense. (b) Journalize the transactions, including explanations. (c) Post to the ledger accounts. (d) Prepare a trial balance on October 31, 2017
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