Reference no: EM132760586
Question - Gabriel Gibbons incorporated Gibbons Legal Pty Ltd, a law practice, on 1 July 2020.
The following events occurred in the month of July.
July 1 Shareholders invested $88 000 cash in exchange for company shares
July 3 Hired a receptionist at a salary of $2000 per month.
July 4 Purchased office supplies on account from Werks Supply Ltd for $1600.
July 7 Paid office rent of $2400 for the month of July.
July 11 Invoiced clients $3800 for legal services provided.
July 12 Received $3000 advance from a client for legal consulting engagement.
July 17 Received cash of $1700 for a completed legal case. (Not related to July 11 transaction)
July 31 Paid receptionist salary of $2000.
July 31 Paid 40 percent of amount owing to Werks Supply Ltd.
Required -
a) Journalise the transactions, narrations not required.
b) Conduct an unadjusted trial balance as at 31 July 2020.
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