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CHART OF ACCOUNTS CLGL Assets 111 Cash 112 Accounts Receivable 114 Prepaid Insurance 121 Land 122 Building 123 Accumulated DeYou are to record transactions in a two-column general journal. Assume that the fiscal period is one month. You will then beounting Cycle for a Service Business: Analyzing Business Transactions ped upon is 10 percent July 2 Bought 125 inner tubes fr21 Received $10,330 in cash as income for the use of the facilities. 21 Paid cash to Worn Tires as partial payment on accountCHAPTER 5: CLOSING ENTRIES AND THE POST-CLOSING TRIAL BALANCE pare a trial balance. (If using a work sheet, use the first two

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-Answer Dale Particulars Amt Ant cash 12240 Jul oa utilities expense 1225 cash 506 Accounts Payable 725 Jul oz cash 250 conesJuly Cash louus income from servicos Ibuus Jul 15 wagos expense quo Co on auto Jul 16 Accounts yable 1150 cash 1150 Jul 16 Jumiscellaneous 242 Jul 25 २१२ cash Jul 29 wages exp 8227 8227 cash cash 11870 income from servicos 11870 Jul 31 Accounts cashAdjustment ontries Jul 31 1620 Insurance Prepaid exp insurance 1020 Jul 31 Depreciation 486 exp, buil ding dep U80 accumulate

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