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Use basic skills of accounting elements to analyze and record transactions while preparing journal, ledger and trial balance
Harry Wilson completed these transactions during the month of December:
Dec.2 Invested $40000 to start a consulting practice titled Harry, Consultant.
2 Paid monthly office rent $1500.
3 Paid cash for a machinery, $10000.
4. Purchased office furniture on account,$3600.
5. Purchased supplies on account, $300.
9. Performed consulting service for a client on account, $1700.
12. Paid utility expenses, $200.
18. Performed service for a client and received cash for the full amount of $800.
Instructions
Journalize the transactions (I mark for each journal entry=8 marks)
Post to the ledger (1 mark for each account= 10 marks)
Prepare a Trial balance on December 31. (2 marks)
Answer & Explanation
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