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Prepare Journal Entries, Trial Balance, and Income Statements
Oct 1. Graham invested $90,000 cash, a 36,000 computer system, and $18,000 of office equipment in the business
Oct 2. Paid rent in advance $9,000
Oct 3. Purchased computer supplies oncredit for $ 2,640 from Abbott Office Products.
Oct 5. Paid $4,320 cash for one yesr's premium on a property and liability insurance policy
Oct 6. Billed Capital Leasing $6,600 for installing new computer
Oct 8. Paid for the computer supplies purchased from Abbott Office Products
Oct 10. Hired Carly Smith as a part0time asistanat for $200 per day, as needed
Oct 12. Billed Capital Leasing another $2,400 for computer services rendered
Oct1 15. Received $6,600 from Capital leasing on its account
Oct 17. Paid $1,410 to repair computer equipment damaged when movng to a new office
Oct 20. Paid $3,720 for and advertisement in the local newspaper
Oct 22. Received $2,400 from Capital Leasing on its account
Oct 28. Billed Decker Company $6,450 for services
Oct 31. Paid Carly Smith for seven days work
Oct 31. Withdrew $7,200 cash from the business for personal use
Nov 1. Reimbursed graham's business automobile expense for 1,000 kilometers at $1.00 per kilometer
Nov 2. Received $9,300 cash from Elite Corporation for computer services rendered
Nov 5. Purchased $1,920 of computer supplies for cash from Abbott Office Products
Nov 8. Billed Fostek Co. $8,700 for computer services rendered
Nov 13. Notified by Alamo Engineering Co. that Echo's bid of $7,500 for an upcoming project was accepted
Nov 18. Received $3,750 from Decker Company againts the bill dated October 28
Nov 22. Donated $1,500 to the United Way in the company's name
Nove 24. Completed work fr Alamo Engineering Co. and sent a bill for $7,500
Nov 25. Sent another bill to Decker Company for the past due amount of $2,700
Nov 28. Reimbursed Graham's business expense for $1,200 kilometers at $1.00 per kilometer
Nov 30. Paid Carly Smith for 14 days work
Nov 30. Withdrew $3,600 cash from the business for personal use
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