Business, 07.02.2021 02:10 npaslayoy1bzj

1. The following activity for J. C. Breneman Management Services took place on June 1, 20- Received $3,290 in cash from the owner as an investment (receipt no. 1).
Borrowed $900 cash from Inland Bank for business expenses (memo 1).
Paid cash for supplies, T290 (check no. 1).
Paid cash for insurance, $1,000 (check no. 2).
Paid cash for equipment, $2,100 (memo 2).
Using Exam Figure 1, prepare a chart of accounts for J. C. Breneman Management Services. Then post the journal entries from the general journal to the ledger
accounts.
The Item column of the ledger account for the opening first entry for the ledger accounts should contain the
A. word "Cash"
B. word "Balance"
C. account title
D. words "Opening Entry"

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