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Question - During March 2020 a dog grooming parlour had the following transactions (ignore GST):
March 2 Paid $1800 cash for the month's rent.
March 3 Purchased equipment costing $7 000 by making an online bank transfer for $3 200 and signing a commercial loan agreement for $3 800.
March 4 Purchased and paid for supplies $840.
March 16 Recorded grooming services revenue for the first half of the month of $8250 in cash and $620 on credit.
March 23 Received a $140 payment from customers who purchased on credit in the first half of the month.
Required -
A. Prepare the general journal entries to record the transactions.
B. Post the entries from the general journal to the general ledger accounts (running balance format) and enter the posting references in the general journal.
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