of the Speedy Delivery Service are recorded in the general j

of the Speedy Delivery Service are recorded in the general journal below. You are to post the journal entries to the accounts in the general ledger. After all entries have been posted, you are to prepare a trial balance on the form provid General Journal Date Account Titles and Explanation Debit Credit 2017 Sept. 1 Cash Common Stock (Stockholders invested cash in business) 4 Equipment 60,000 Cash Notes Payable 10,000 paid cash and issued 2-year, 6%, note for delivery trucks) 8 Rent Expense 1,000 Cash 1,000 (Paid September rent) 1,400 1,400 Cash 4,500 4,500 18 Cash Received cash for delivery services)

Solution

1) General Ledger: DEBIT AMOUNT $ CREDIT AMOUNT $ Cash account: 1-Sep 25000 4-Sep 10000 18-Sep 4500 8-Sep 1000 15-Sep 1400 20-Sep 500 30-Sep 750 C/B 15850 AR account: 30-Sep 1000 Prepaid Insurance: 15-Sep 1400 Equipment account: 4-Sep 60000 Accounts Payable account: 25-Sep 100 Notes Payable account: 4-Sep 50000 Common Stock account: 1-Sep 25000 Dividends account : 30-Sep 750 Service Revenue account: C/B 5500 18-Sep 4500 30-Sep 1000 Rent Expense account: 8-Sep 1000 Salaries and Wages expenses account: 20-Sep 500 Utilities Expense account : 25-Sep 100 TRIAL BALANCE : ACCOUNT TITLE DEBIT $ CREDIT $ Cash 15850 AR 1000 Prepaid Insurance 1400 Equipment 60000 Accounts Payable 100 Notes Payble 50000 Common stock 25000 Dividend 750 Service Revenue 5500 Rent expense 1000 Salaries and wages exp 500 Utilities expense 100    Total 80600 80600