General Journal

Date Account Titles Debit Credit

Jul. 1 Cash 100,000
Owner's equity 100,000
to record owner's investent
Jul. 2 Equipment 50,000
Cash 50,000
to record the purchase of equipment
Jul. 4 Supplies 5,000
Cash 5,000
to record the purchase of supplies
Jul. 6 Cash 8,000
Sales 8,000
to record the cash sales
Jul. 7 Accounts receivable 15,000
Sales 15,000
to record the sales on account
Jul. 8 Txes and Licenses 2,500
Cash 2,500
to record the payment of license fees
Jul. 9 Prepaid rent 60,000
Cash 60,000
to record the payment of rent for a year
Jul. 15 Cash 10,000
Service fees 10,000
to record the payment of service rendered
Jul. 20 Cash 50,000
Loans payable 50,000
to record the loans obtained
Jul. 22 Cash 10,000
Accounts receivable 10,000
to record the collection of accounts receivable
Jul. 25 Inventory 20,000
Cash 20,000
to record the purchase of inventory
Jul. 30 Salaries expense 7,500
Cash 7,500
to record the payment of employees' salary
Jul. 31 Loans payable 25,000
cash 25,000
to record the partial payment of loan
 General Ledger

ASSETS
Cash Accounts receivable
Debit Credit Debit
Jul. 1 100,000 50,000 Jul. 2 Jul. 7 15,000
Jul. 6 8,000 5,000 Jul. 4 Bal. 5,000
Jul. 15 10,000 2,500 Jul. 8
Jul. 20 50,000 60,000 Jul. 9 Supplies
Jul. 22 10,000 20,000 Jul. 25 Debit
7,500 Jul. 30 Jul. 4 5,000
25,000 Jul. 31 Bal. 5,000
Bal. 8,000
Prepeid rent
Inventory Debit
Debit Credit Jul. 9 60,000
Jul. 25 20,000 Bal. 60,000
Bal. 20,000

Equipment
Debit Credit
Jul. 2 50,000
Bal. 50,000

LIABILITY
Loans payable
Debit Credit
Jul. 31 25,000 50,000 Jul. 20
Bal. 25,000

OWNER'S EQUITY
Owner's equity
Debit Credit
100,000 Jul. 1
Bal. 100,000

INCOME EXPENSE
Service fees Salaries expense
Debit Credit Debit
10,000 Jul. 15 Jul. 30 7,500
Bal. 10,000 Bal. 7,500

Sales Taxes and Licenses

Debit Credit Debit
8,000 Jul. 6 Jul. 30 2,500
 15,000 Jul. 7 Bal. 2,500
Bal. 23,000
Accounts receivable
Credit
10,000 Jul. 22

Supplies
Credit

Prepeid rent
Credit

EXPENSE
Salaries expense
Credit

Taxes and Licenses

Credit
 Aba Kan Co.
Unadjusted Trial Balance
July 31, 2019

Accounts Debit Credit

Cash 8,000
Accounts receivable 5,000
Inventory 20,000
Supplies 5,000
Prepaid rent 60,000
Equipment 50,000
Loans payable 25,000
Owner's equity 100,000
Service fees 10,000
Sales 23,000
Salaries expense 7,500
Taxes and Licenses 2,500
Totals 158000 158000