Reference no: EM132484586

The company engaged in the following transactions during its first month of operations.

Point 1: July 18 Issued 500 shares of capital stock to Patrick Donegan for $1, 500.

Point 2: July 22 Purchased office supplies on account for $100.

Point 3: July 23 Purchased mowing equipment for $2,000, paying $400 cash and issuing a 60-day note payable for the remaining balance.

Point 4: July 24 Paid $25 cash for gasoline. All of this fuel will be used in July.

Point 5: July 25 Billed Lost Creek Cemetery $150 for mowing services. The entire amount is due July 30.

Point 6: July 26 Billed Golf View Condominiums $200 for mowing services. The entire amount is due August 1.

Point 7: July 30 Collected $150 from Lost Creek Cemetery for mowing services provided on July 25.

Point 8: July 31 Paid $80 salary to employee Teddy Grimm for work performed in July.

Required:

Question a. Record each of the above transactions in general journal form.

Question b. Post each entry to the appropriate ledger accounts.

Question c. Prepare a trial balance dated July 31, current year.