The trial balance of the online book publishing business of Bobbie Singh at November 15, 2017, is shown below:
During the remainder of November, the business completed the following transactions:
Nov. 16 Collected $6,000 cash from a client on account.
17 Performed publishing services for a client on account, $2,100.
21 Made a payment on account in the amount of $2,600.
22 Purchased supplies on account, $4,600.
23 Singh withdrew $2,100 cash for personal use.
24 Was advised that Desk Top Inc. was prepared to buy all of Sunshine Publishing for $67,800.
26 Received $11,900 cash for design work just completed.
30 Paid employees’ salaries, $2,700 cash.
Required
1. Record the transactions that occurred during November 16 through 30 on Page 6 of the journal. Include an explanation for each entry.
2. Post the transactions to three-column accounts in the ledger, using dates, account numbers, journal references, and posting references. Open the ledger accounts listed in the trial balance together with their balances at November 15. Enter Bal . (for previous balance) in the Item column, and place a check mark (✓) in the journal reference column for the November 15 balance of each account.
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