Reference no: EM132610025

Question - The Paul's Services INC engaged the following transactions during the month of November 2016.

Nov 01: Kashif deposited $120,000 cash in bank account in the name of business.

Nov 03: Paid office rent for the month of November $500.

Nov 06: Purchases office supplies $250

Nov 12: Purchase business car for $25,000, Paid 10000 cash and issue a note for the balance.

Nov 21: Owner Withdraw $5000 cash.

Nov 23: Billed customers $30000 for services rendered during the month.

Nov 25: Paid salaries advance for the month of December $1000

Nov 28: Paid utility bills for the month of November $180

Nov 29: Received $24000 cash for clients billed on November 21.

Nov 30: Paid salary for the months of November $7500.

Requirements -

a) Record the above transitions in a in a general journal.

b) Post each entry to the appropriate ledger account.

c) Make a trail balance.