Question
The transactions of Matile Delivery Company are recorded in the general journal below. You are to post the entries to T accounts (include dates) and
The transactions of Matile Delivery Company are recorded in the general journal below. You are to post the entries to T accounts (include dates) and foot and balance the T accounts. Prepare a trial balance in good order and form with complete headings. Dont forget that there is a specific order of accounts: assets (in order of liquidity), liabilities (in order of liquidity), owners capital, owners withdrawals, revenues and expenses.
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| General Journal |
| Page 1 |
Date | Description | Debit | Credit | |
20XX April | 1 | Cash | 15,000 |
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| Matile, Capital |
| 15,000 |
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| 4 | Delivery Trucks | 30,000 |
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| Cash |
| 10,000 |
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| Notes Payable |
| 20,000 |
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| 8 | Rent Expense | 1,000 |
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| Cash |
| 1,000 |
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| 15 | Prepaid Insurance | 400 |
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| Cash |
| 400 |
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| 18 | Cash | 2,500 |
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| Delivery Revenue |
| 2,500 |
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| 20 | Salaries Expense | 500 |
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| Cash |
| 500 |
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| 25 | Utilities Expense | 100 |
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| Accounts Payable |
| 100 |
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| 30 | Matile, Withdrawals | 800 |
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| Cash |
| 800 |
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| 30 | Accounts Receivable | 2,000 |
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| Delivery Revenue |
| 2,000 |
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Trial Balance
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