Concept explainers
(a)
Journalizing: It is the process of recording the transactions of an organization in a chronological order. Based on these
T-Account: It is a form of ledger account in which the debit entries are shown at the left side of the account and credit entries are shown at the right side of the account.
To Prepare: (a) T-accounts and post the opening balances (b) Journal entries for the January transactions, (c) ledger accounts and (d) the trial balance as on January 31, 2019.
(b)
Journalize the transactions.
(c)
(d)
Prepare the trial balance as on January 31, 2019.
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