Activity 1.1 Friendly TruckingOn April 1, 2019, Nels Ferrer organized a business callèd Friendly Trucking.During April, the company entered into the following ransactions:Apr 1 Nels Ferrer deposited Php500,000 cash in a bank account in the name ofthe business.Apr 1 Purchased for Php250,000 a transportation equipment tobe use in the business. Nels páid 50% as down payment while thebalance will be paid on May5, 2019Apr 1Paid rental for the month of April, Php 5,000Apr 5Earned and collected trucking income from Ryan, Php8,000Apr 8 Earned trucking income from Jesper, Php 30,000 on account. Jesper willpay on May 8, 2019Apr 10Paid salaries ofdrivers, Php10,000Apr 15 Rented the vehicle to Joshua for Php35,000, Joshua paid Php20,000 on thatdate and the balance on April 20Paid electric bills for the month, Php2,000Apr 18Apr 20Collected from Joshua the balance of his April 15 accountApr 25Purchased office supplies, Php2,300Apr 29Earned and collected trucking income from Jay, Php18,000Instructions:a. Journalize the above transactionsb. Post to ledger using the T-account formatc. Prepare the unadjusted trial balance, as of April 30, 2019

Journals, Ledgers and Unadjusted trial Balance are important for a company's accounting

Answered: Instructions: a. Journalize the above…

Instructions: a. Journalize the above transactions b. Post to ledger using the T-account format c. Prepare the unadjusted trial balance, as of April 30, 2019

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter5: Sales And Receivables

Section: Chapter Questions

Problem 86BPSB

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