E3.10 ( LO44 ) (Post journal entries and prepare trial balance.) Kang Ltd. had the...
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Accounting
E3.10 ( LO44 ) (Post journal entries and prepare trial balance.) Kang Ltd. had the following opening account balances at July 31: Cash $4,000; Accounts Receivable $2,000; Equipment $2,500; Accounts Payable $1,500; Common Shares $2,000; and Retained Earnings $5,000. Kang's general journal for the month of August is presented here: Instructions a. Prepare an explanation for each of the journal entries listed above. b. Set up T accounts, enter the opening balances at July 31, post the August journal entries to the general ledger, and determine the ending balances in each account. c. Prepare a trial balance at August 31
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