1. Creating a Chart of Accounts

2. Instructions:
Prepare a chart of accounts based on the following transactions.
Number the accounts appropriately.

3. Transactions
Invested $20,000 in cash and transferred rafting equipment valued at $5000 to the business, Memo 35.
Purchased $600 in hiking equipment on account from Peak Equipment Inc., Invoice 101.
Bought a $2,800 computer from Premier Processors and agreed to pay for it within 60 days, Invoice 616.
Deposited $700 cash received from clients, Receipt 310.
Paid $400 to the Daily Courier for an ad, Check 652.
Sent a bill for $900 to the Podaski Systems, Inc. for conducting a group rafting trip for them, Sales Invoice 352.
Juanita Ortega wrote a check for $800 for personal use, Check 653.
Paid Premier Processors $1400 to apply on account, Check 654.
Received $900 from Podaski Systems, Inc. in full payment for the amount owed, Receipt 316.
Bought a $500 television ad with LIVE TV, check 655.
Paid Peak Equipment Inc. $600 by writing Check 656.

4. Addition
Add the following accounts to your chart of accounts and number them appropriately.
Utilities Expense
Maintenance Expense
Rent Expense

5. Instructions: Using Microsoft Excel:
Journalize the previous transactions
Post to the General Ledger