bob sample opened the campus laundromat on september 1 2010 during the first month o 337705

1. Bob Sample opened the Campus Laundromat on September 1, 2010. During the first month of operations the following transactions occurred. Sept. 1 Bob invested $20,000 cash in the business.

2 The company paid $1,000 cash for store rent for September.

3 Purchased washers and dryers for $25,000, paying $10,000 in cash and

signing a $15,000, 6 month, 12% note payable.

4 Paid $1,200 for a one year accident insurance policy.

10 Received a bill from the Daily Newsfor advertising the opening of the

laundromat $200.

20 Bob withdrew $700 cash for personal use.

30 The company determined that cash receipts for laundry services for the

month were $6,200.

The chart of accounts for the company is the same as that for Pioneer Advertising Agency

plus the following: No. 154 Laundry Equipment, No. 610 Advertising Expense, No. 301 Bob

Sample, Capital; and No. 306 Bob Sample, Drawing.

Instructions

(a) Journalize the September transactions. (Use J1 for the journal page number.)

(b) Open ledger accounts and post the September transactions.

(c)

Prepare a trial balance at September 30, 2010.