Problem
Provide the fiscal period of your business beginning with the month of September 2022 as the first month of operation:
Provide a listing of your general ledger accounts that you will be using in your business along with a 3 digit numbering system for the 6 types of accounts:
For the first 10 days of your business operations:
Using a general journal, record your original investment into the business identifying cash and equipment. Your cash invested will be in the amount of $100,000 and your equipment will be up to $50,000 (you need to decide how much equipment you will need).
Using the general journal, provide entries relating to the use of your original investment to acquire office supplies, prepaid rent for the first 3 months of operation and merchandise inventory.
Using the general journal, provide entries reflecting a merchandise sale for cash and another merchandise sale on account