2Exercise 2Consider the following data for Binda Company.1)The owner, Mike Derby, invests $35,000 in cash in starting a real estate office operating as a sole proprietorship. 2)Purchased $400 of office supplies on credit. 3)Purchased office equipment for $8,000, paying $2,000 in cash and signed a 30-day, $6,000, note payable. 4)Real estate commissions billed to clients amount to $4,000. 5)Paid $700 in cash for the current month's rent. 6)Paid $200 cash on account for office supplies purchased in transaction 2. 7)Received a bill for $600 for advertising for the current month. 8)Paid $2,200 cash for office salaries. 9)Derby withdrew $1,200 from the business for living expenses. 10)Received a checkfor $3,000 from a client in payment on account for commissions billed in transaction 4.Instruction:a)Journalize the above transactions in general journal formand post the entries to ledger accounts. Identify each transaction by number. You may omit explanations of the transactions.b)Prepare unadjusted trial balance.
2Exercise 2Consider the following data for Binda Company.1)The owner, Mike Derby, invests $35,000 in cash in starting a real estate office operating as a sole proprietorship. 2)Purchased $400 of office supplies on credit. 3)Purchased office equipment for $8,000, paying $2,000 in cash and signed a 30-day, $6,000, note payable. 4)Real estate commissions billed to clients amount to $4,000. 5)Paid $700 in cash for the current month's rent. 6)Paid $200 cash on account for office supplies purchased in transaction 2. 7)Received a bill for $600 for advertising for the current month. 8)Paid $2,200 cash for office salaries. 9)Derby withdrew $1,200 from the business for living expenses. 10)Received a checkfor $3,000 from a client in payment on account for commissions billed in transaction 4.Instruction:a)Journalize the above transactions in general journal formand
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