Scenario: Thomas Mueller decided to start a very basic hairdressing shop, Hair Port. He only does cuts, blow waves and color (using the client’s own purchased packet of hair dye.) He began business on...

General Journal
        General Journal
        Date     Account Title & explanation     Debit     Credit
        1-Jan    Cash     150000        Comment:
The amount of capital invested mentioning in the beginning of the question doesn't match the recipt of 25000 and 10000. The amount in the beginning is given in SAR while the rest of the numbers are in Dollars. This needs to be checked and to be changed to the amount given in the 1st receipt if required.
            Capital        150000
        1-Jan    Bank    100000
            Loan payable         100000
        1-Jan    Furniture, Fixtures and Equipment    16800
            Account Payable-Thomas        16800
        1-Jan    Rent payable     1000
            Prepaid Rent     1000
            Cash         2000
        5-Jan    Party Expenses    175
            To Cash        175
        8-Jan    Cash     1200
            Bank     20
            Bank    15
            Bank    15
            Bank    30
            Sales of Service        1280
        9-Jan    Bank    16800
            Accounts Payable-Thomas        16800
        15-Jan    Cash     2100
            Bank     25
            Bank    40
            Bank    15
            Bank    75
            Sales of Service        2255
        15-Jan    Phone Expense     25
            Bank         25
        15-Jan    Salary expense     1100
            Bank        1100
        20-Jan    Advertising expense     750
            Prepaid Advertising Expense    1500
            Bank         2250
        22-Jan    Cash     1800
            Bank    25
            Bank    25
            Bank    15
            Sales of Service        1865
        31-Jan    Cash     1700
            Bank     20
            Bank     15
            Sales of Service        1735
        31-Jan    Drawings (Capital)    500
            To Bank        500
        31-Jan    Bank         1100
            Salary expense     1100
        31-Jan    Interest on Loan    100
            Bank        100
        31-Jan    Water Expenses    43
            To Expenses Payable        43
            Total     298028    298028
General Ledger
            General Ledger
            Account name     Bank Account             Account #     1
            Debit                 Credit
            Date     Description     Ref     Amount     Date     Description     Ref    Amount
                Loan payable         100000        Supplies expense         175
                                Account payable (Barber)        16800
                                Phone Expense         25
                Sales of Service        80        Salary expense         1100
                Sales of Service        155        Advertising expense         2250
                Sales of...