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 News for 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.
a) Journalize the September transactions.
b) Open ledger accounts and post the September transactions.
c) Prepare a trial balance at September 30, 2010.