Reference no: EM132543445

Question - In April 2017 Mohammed established his legal services office and he called it Irbid legal services Inc.

Below is business transactions related to Irbid legal services Inc.

On April 1, Mohammad invests $25,000 cash in exchange for capital shares.

On April 3, borrowed $3000 cash from a bank on exchange for a note payable.

On April 2, paid April rent of 500$.

On April 4, hires an administrative assistant at a salary of $900 per month.

On April 5, performed legal services to Mohammed Ali for 3000$ on account.

On April 7, purchased a land costing $30,000. It paid $20,000 cash and $10,000 on account.

On April 10, received $4,000 from ABC Company for legal services provided in April.

On April 13, Paid $750 in settlement of April 3 transaction.

On April 14, billed customers $1,800 for services provided.

On April 18, Receives$1,000 cash in advance against legal services to a client Ahmad Ali, the legal services is expected to be completed by July 31.

On April 20, paid in advance $7,000 cash for two years' office rent.

On April 23, received $780 cash from customers billed on April 14.

On April 25, paid $3,500 cash for employee salaries.

On April 26, collected the April 5, Mohammed Ali debit.

On April 30, Declared and paid a $1,500 cash dividend.

Instructions -

1. Journalize the transaction.

2. Post entries related to the Cash account of the general ledger and calculated Cash account balance on April 30?