Reference no: EM132570860
Terry Stewarty opened an IT training school and entered into the following transactions:
Jan 6 Terry contributed (invested) $49,500 cash in the business
7 Purchased office supplies on credit $1,327
12 Paid employee's salary $2,478
23 Performed $3,710 training services for the customer Query Ltd on account
29 Received $1,855 in cash from Query Ltd
31 Purchased a twelve-month policy insurance for $1,200
Required:
Question 1: Record the transactions in the journal.
Question 2: Post journal entries to the ledger accounts, and balance ledger accounts.
Question 3: Complete the trial balance.
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