The trial balance of Jane's Laundry Corp. on September 30 is shown below:

The October transactions were as follows:
Oct. 5 Received \(\$ 900\) cash from customers on account.
10 Billed customers for services performed \(\$ 5,500\).
15 Paid employee salaries \(\$ 1,200\).
17 Performed \(\$ 400\) of services for customers who paid in advance in August.

20 Paid \(\$ 1,600\) to creditors on account.
29 Declared and paid \(\$ 500\) in cash dividends.
31 Paid utilities \(\$ 600\).
\section*{Instructions}

(a) Enter the opening balances in the ledger accounts as of October 1. Write "Balance" in the explanation space and insert a check mark \((\sqrt{ }\) ) in the reference column. Provision should be made for the following additional accounts: No. 332 Dividends; No. 426 Laundry Revenue; No. 726 Salaries Expense; and No. 732 Utilities Expense.

(b) Journalize the transactions.

(c) Post to the ledger accounts.

(d) Prepare a trial balance on October 31, 1996.

Transcribed Image Text:

Account JANE'S LAUNDRY CORP. Trial Balance September 30, 1996 No. Debit Credit 101 Cash $ 8,500 112 Accounts Receivable 2,200 126 Supplies 1,700 157 Equipment 8,000 201 206 Accounts Payable $ 5,000 Unearned Revenue 700 311 Common Stock 14,700 $20,400 $20,400