Reference no: EM132951177
Question - Mr. Bobby opened a business called Bob-O Merchandising. The following were the transactions for the year ended December 31, 20xx:
1. Mr. Bobby contributed 600,000 to the business.
2. Bob-O obtained a loan of 400,000.
3. Bob-O purchased inventory worth 200,000 on cash basis.
4. Bob-O purchased inventory worth 500,000 on account.
5. Bob-O sold goods for 900,000, on account. The cost of the goods sold is 400,000.
6. Bob-O paid 400,000 accounts payable.
7. Bob-O collected 500,000 accounts receivable.
8. Bob-O purchased equipment for 480,000 cash.
9. Bob-O distributed 10,000 cash to Mr. Bobby.
10. Bob-O paid interest expense of 5,000.
Required -
A. Provide journal entries?
B. Post the entries to ledger using T-accounts?
C. Prepare the unadjusted trial balance?
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