Comprehensive Problem in Trial Balance
Cash $ 26,470
A/R 14,222
Office Supplies 4,298
Prepaid Insurance 23,137
Equipment 131,495
A/D - Equipment $19,096
Accounts Payable 11,998
Unearned Service Revenue 14,336
Notes Payable 60,679
Common Stock 63,546
Retained Earnings 29,967
Totals $199,622 $199,622
During the month of July 2013, the following occurred:
July 1 received $7,350 of the prior month's receivables
July 2 paid $6,847 of the prior month's accounts payable and paid $4,000 for July rent
July 3 paid $7,500 of the notes payable
July 5 provided a service and billed a client $4,087
July 8 bought office supplies for $3,120 cash
July 9 received $4,200 for a service to be provided
July 11 collected $8,028 of receivables
July 12 provided a service and billed a client $7,366
July 13 earned $5,500 of the prior month's unearned revenue
July 15 bought office supplies for $2,433 on account
July 17 provided a service and billed a client $6,250
July 19 received $3,100 for a service to be provided later
July 22 paid $3,877 travel (all for July travel)
July 24 paid $4,089 of accounts payable
July 25 paid temporary employees $3,890 of wages (all for July work)
July 26 paid $6,000 of the notes payable
July 28 paid the shareholder a $2,500 dividend
July 30 provided a service fully earning the $4,200 from July 9
July 31 paid the shareholder a $3,800 dividend
Part Ia provide general journal entries in general journal form for the above transactions Part Ib create a trial balance at July 31 fully taking into account the beginning balances and the general journal entries recorded in part Ia (t-accounts are recommended for key, or all, accounts; do not hand in t-accounts)
Note: part II will be provided after successful completion of part I