BM4112: Yeo Legal provides legal services and the following transactions occurred in July 20X7: Principles of Financial Accounting Assignment, NYP, Singapore

 Question 1

Yeo Legal provides legal services and the following transactions occurred in July 20X7:

Required:

• Prepare the journal entries to record the above transactions for the month of July 20X7.
• Post the above transactions to the Cash Account in the general ledger assuming the opening balance as of 1 July 20X7 was $20,000. Follow the format below to do the posting to the Cash Account.

Question 2

Enrich Education Lab provides language enrichment classes to primary school students. It had the following normal account balances as of 1 May 20×9:

Required:

• Prepare the journal entries to record the above transactions for the month of May 20X9.
• Post the above transactions to the Cash at Bank Account, Supplies Account and Fees Earned Accounting the general ledger. Follow the format below to do the posting.