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The transactions of the Malone Delivery Service are recorded in the general journal below. You are to post the journal entries to the accounts in
The transactions of the Malone Delivery Service are recorded in the general journal below. You are to post the journal entries to the accounts in the general ledger. After all entries have been posted, you are to prepare a trial balance on the form provided.
General Journal Date Account Titles and Explanation Debit Credit 2001 Sept. 1 Cash 15.000 15,000 Common Stock (Stockholders invested cash in business) 4 Delivery Trucks 30,000 Cash Notes Payable (Paid cash and issued 2-year, 9%, note for delivery trucks) 10,000 20.000 8 1.000 Rent Expense Cash (Paid September rent) 1,000 15 400 Prepaid Insurance Cash (Paid one-year liability insurance) 400 18 Cash 2.500 2.500 Service Revenue (Received cash for delivery services) 20 Salaries Expense 500 Cash 500 (Paid salaries for current period) 25 100 Utility Expense Accounts Payable (Received a bill for September utilities) 100 30 750 Dividends Cash (Paid dividends) 750 30 1,000 Accounts Receivable Service Revenue (Billed customer for delivery service) 1,000 Part A General Ledger (See Attached document) Problem #2 - General Ledger.docx Part B. Prepare a Trial Balance General Ledger Cash Accounts Receivable Prepaid Insurance Delivery Trucks Accounts Payable Notes Payable Common Stock Dividends Service Revenue Rent Expense Salaries Expense Utility Expense Step by Step Solution
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