Post the journal to a ledger of four-column accounts

Reference no: EM133363346

Question: Post the journal to a ledger of four-column accounts, inserting appropriate posting references as each item is posted. Extend the balances to the appropriate balance columns after each transaction is posted.

On November 1, 2016, Patty Cosgrove established an interior decorating business, Classic Designs. During the months, Patty completed the following transactions related to the business: Nov 1. Patty transferred cash from a personal bank account to an account to be used for the business, $27,750. 1. Paid rent for period of November 1 to end of month, $4,000. 6. Purchased office equipment on account, $12,880. 8. Purchased a used truck for $32,500, paying $6,500 cash and giving a note payable for the remainder. 10. Purchased supplies for cash, $1,860. 12. Received cash for job completed, $7,500. 15. Paid annual premiums on property and casualty insurance, $2,400. 23. Recorded jobs completed on account and sent invoices to customers, $12,440. 24. Received an invoice for truck expenses, to be paid in December, $1,100. 29. Paid utilities expense, $3,660. 29. Paid miscellaneous expenses, $1,700. 30. Received cash from customers on account, $8,000. 30. Paid wages of employees, $4,750. 30. Paid creditor a portion of the amount owed for equipment purchased on November 6, $6,220. 30. Withdrew cash for personal use, $2,000.

Reference no: EM133363346

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