The transactions of Finkel Brothers Limited are recorded in the general journal below. You are to post the journal entries to the accounts in the general ledger (use T accounts). After all entries have been posted, you are to prepare a trial balance at September 30, 2018.

General Journal

Date Account Titles and Explanation Debit Credit

2018

Sep 1 Cash................................................................................... 20,000

Common Shares......................................................... 20,000

(Shareholders invested cash in business)

4 Vehicles.............................................................................. 40,000

Cash............................................................................ 15,000

Bank Loan Payable..................................................... 25,000

(Paid cash and issued 2-year, 9% bank loan for balance)

8 Rent Expense.................................................................... 1,200

Cash............................................................................ 1,200

(Paid September rent)

15 Prepaid Insurance.............................................................. 500

Cash............................................................................ 500

(Paid one-year liability insurance)

18 Cash................................................................................... 3,200

Service Revenue........................................................ 3,200

(Received cash for delivery services)

20 Salaries Expense............................................................... 750

Cash............................................................................ 750

(Paid salaries for current period)

25 Utilities Expense................................................................ 125

Accounts Payable....................................................... 125

(Received a bill for September utilities)

30 Dividends Declared............................................................ 800

Cash............................................................................ 800

(Paid dividends)

30 Accounts Receivable......................................................... 1,450

Service Revenue........................................................ 1,450

(Billed customer for delivery service)