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    Journal, posting and trial balance

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    Please find in attachment the work I need help on. Please do not answer the TRUE or FALSE question.
    Kwan Lee began a cleaning service on October 1, 20xx and engaged in the following transactions during his first month of operations. Use the attached forms to do the following:

    1. Journalize the entries in the General Journal on pages 3 and 4 using requirements (A) and (B) as follows:
    (A) Use explanations in each journal entry.
    (B) Before journalizing the entries into the General Journal, go to the General Ledger on pages 5 and 6
    and read the names of the accounts. DO IT NOW. Use only those precise account names in your
    journal entries.

    2. Post the General Journal entries into the General Ledger accounts on pages 5 and 6 using posting references in both the General Journal and in the General Ledger.

    3. Prepare the Trial Balance of the ledger accounts in the Trial Balance form on page 2. Although the trial
    balance form is on page 2, it must be done last, after journalizing, posting, and calculating account

    Oct. 1 Kwan Lee began business by investing $6,000 cash from his personal bank account to the business bank account to start the business;
    Oct. 2 Kwan Lee ordered cleaning supplies, $500;
    Oct. 3 Kwan Lee purchased cleaning equipment for cash, $1,400;
    Oct. 4 He leased a van by making two months lease payments in advance, $600;
    Oct. 7 Received the cleaning supplies ordered on October 2 and agreed to pay one half the amount in ten days from now and the rest in 30 days;
    Oct. 9 Paid for repairs on the van with cash in the amount of $40;
    Oct. 12 Received cash for cleaning carpets, $480;
    Oct. 17 Paid half of the amount owed on the supplies purchased on Oct. 7, $250;
    Oct. 21 Billed customers for cleaning carpets, $670;
    Oct. 24 Paid for additional repairs on the van with cash, $40;
    Oct. 27 Received $300 cash from the customers billed on Oct. 21;
    Oct. 31 Kwan Lee withdrew $350 from the business for his personal use.

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    1. The entries are made in the journal and ...

    Solution Summary

    The solution explains how to prepare the journal entries, post to accounts and prepare a trial balance