Reference no: EM133180778

Question - Grete Rodewald formed a dog grooming and training business called Grete Kanines on September 1, 2021. After consulting with a friend who had taken introductory accounting, Grete created a chart of accounts for the business as follows: No. 101 Cash

No. 112 Accounts Receivable

No. 130 Prepaid Insurance

No. 151 Equipment

No. 201 Accounts Payable

No. 209 Unearned Revenue

No. 301 G. Rodewald, Capital

No. 306 G. Rodewald, Drawings

No. 400 Service Revenue

No. 610 Advertising Expense

No. 726 Rent Expense

No. 737 Utilities Expense.

During September, the following events and transactions occurred:

Sept. 1 Grete transferred $9,630 from her personal bank account to a bank account under the company name Grete Kanines.

Sept. 2 Signed a one-year rental agreement for $690 per month. Paid the first month's rent.

Sept. 2 Paid $690 for a one-year insurance policy effective September 1, 2021.

Sept. 5 Purchased $2,920 of equipment on credit.

Sept. 7 Paid $480 for advertising in several community newsletters in September.

Sept. 13 Collected $480 cash for providing dog grooming services.

Sept. 21 Attended a dog show and provided $980 of dog grooming services for one of the major kennel owners. The kennel owner will pay the amount owing within two weeks.

Sept. 24 Collected $810 from the kennel owner for the services provided on September 21. The kennel owner promised to pay the rest on October 2.

Sept. 28 Paid $125 for utilities for the month of September.

Sept. 29 Paid $1,760 of the amount owed from the September 5 equipment purchase.

Sept. 30 Received $795 cash for dog training lessons that will start on October 10.

Sept. 30 Collected $1,050 cash for providing dog grooming services.

Sept. 30 Paid the owner, Grete Rodewald, $1,100 for her personal use.

Required -

1. Journalize the transactions.

2. Post the journal entries to the ledger accounts.

3. Prepare a trial balance as at September 30, 2021.