The transactions of the Speedy 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

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DateAccount Titles andExplanationDebitCredit

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2017

Sept.1Cash25,000

CommonStock25,000

(Stockholders invested cash in business)

4Equipment60,000

Cash10,000

NotesPayable50,000

(Paid cash and issued 2-year, 6%, note for

delivery trucks)

8RentExpense1,000

Cash1,000

(Paid September rent)

15PrepaidInsurance1,400

Cash1,400

(Paid one-year liability insurance)

18Cash4,500

ServiceRevenue4,500

(Received cash for delivery services)

20Salaries and WagesExpense500

Cash500

(Paid salaries for current period)

25UtilitiesExpense100

AccountsPayable100

(Received a bill for September utilities)

30Dividends750

Cash750

(Paid dividends)

30AccountsReceivable1,000

ServiceRevenue1,000

(Billed customer for delivery service)

General Ledger

Cash

Accounts Receivable

Prepaid Insurance

Equipment

Accounts Payable

Notes Payable

Common Stock

Dividends

Service Revenue

Rent Expense

Salaries and Wages Expense

Utilities Expense

SPEEDY DELIVERY SERVICE

Trial Balance

September 30, 2017

Accounts

Credit

Debit