Reference no: EM133072422
Question - The post-closing trial balance of Peter's Lawn Services as at 30 June 2021 is as follows:
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Debit $
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Credit $
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Cash at bank
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15,800
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Accounts receivable
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4,600
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Fertiliser Supplies
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900
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Equipment
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21,000
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Accumulated depreciation - Equipment
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3,000
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Accounts payable
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2,300
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Bank loan
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25,000
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Peter, Capital
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12,000
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42,300
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42,300
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The following transactions occurred during the month of July 2021.
July 1 Purchased a used motor vehicle for cash, $12,000, for use in business.
July 7 Completed landscaping job for a client and received cash, $15,000.
July 10 Performed lawn services for a client on credit, $1,800
July 12 Purchased fertiliser supplies on credit, $2,000
July 14 Paid $3,500 of the accounts payable.
July 15 Received $900 on account from 10 July transaction.
July 25 Peter withdrew capital of $3,500.
July 31 Paid $5,160 for a one-year insurance policy.
Required -
a) Journalise the transactions for the month of July 2021. Narrations are required.
b) Prepare the cash at bank ledger account as at 31 July 2021.
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