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Write down all the steps required for journalizing the following business transactions: On January 5th, Mr. David took $20,000 from his personal savings and deposited

Write down all the steps required for journalizing the following business transactions: On January 5th, Mr. David took $20,000 from his personal savings and deposited it to start a business account in the name of David Transport Service. On January 6, David Transport Service issued check No. 506 for $2,000 to buy a computer system. On January 10, David Transport Service paid $100 to Blue company for telephone charges. Memorandum 5. On January 15, David Transport Service mailed check No. 507 for $500 toward the months rent. On January 20, David wrote check No. 508 to withdraw $500 cash for personal use

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