During its first month of operation the rawls repair

Assignment Help Financial Accounting

During its first month of operation, the Rawls Repair Corporation, which specializes in bicycle repairs, completed the following transactions:

Oct. 1	Began business by making a deposit in a company bank account of $12,000, in exchange for 1,200 shares of $10 par value common stock.
Oct. 1	Paid the premium on a one-year insurance policy, $1,200.
Oct. 1	Paid the current month's rent, $1,040.
Oct. 3	Purchased repair equipment from Conklin Company, $4,400. Paid $600 down and the balance was placed on account. Payments will be $200.00 per month for nineteen months. The first payment is due 11/1.
Oct. 8	Purchased repair supplies from McKenna Company on credit, $390.
Oct. 12	Paid utility bill for October, $154.
Oct. 16	Cash bicycle repair revenue for the first half of October, $1,362.
Oct. 19	Made payment to McKenna Company, $200.
Oct. 31	Cash bicycle repair revenue for the last half of October, $1,310.
Oct. 31	Declared and paid cash dividend of $800.

Prepare a trial balance for October.

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During its first month of operation the rawls repair : during its first month of operation the rawls repair corporation which specializes in bicycle repairs completed the