Reference no: EM132822514

Troy Dale opened his Motel on June 1, 2021. During the first month, he completed the following transactions related to the business:

1. Troy transferred $30,000 cash from his personal bank account to the business account
2. Collected $3,000 cash as advance deposits from guests for future hotel stays
3. Purchased equipment worth $8,000, and furniture worth $4,000. The business paid half in cash, and half on account, which will be paid next month
4. Paid $1,100 cash for maintenance
5. Paid for insurance with $800 cash that will cover the motel for one year
6. Sold rooms worth $4,000, half in cash and half on credit
7. Paid $600 cash for advertising
8. Received a utilities bill of $1,000, to be paid next month
9. Paid $200 cash for supplies used around the campground
10. Paid $1,000 salary to his assistant
11. Collected 50% of the balance owing from guests who stayed at the motel this month (see transaction #6)
12. Paid the utilities bill (See transaction # 8)

Problem A- Prepare Journal entries.

Problem B- Post to the general ledger.