Global Delivery Opened for Business on July 1, 2010

question 33

Essay

Global Delivery opened for business on July 1, 2010. The company uses the general ledger accounts listed below. During the first month of business, the firm had the transactions listed below. Record the transactions on page 1 of a general journal. Omit descriptions. Set up a Cash general ledger account and post the appropriate transactions to this account, account 101. $$\begin{array} { l l l l } 101 & \text { Cash } & 301 & \text { Colleen Miriam, Capital } \\103 & \text { Accounts Receivable } & 305 & \text { Colleen Miriam, Drawing } \\105 & \text { Supplies } & 401 & \text { Delivery Fee Income } \\107 & \text { Delivery Equipment } & 501 & \text { Advertising Expense } \\201 & \text { Accounts Payable } & 505 & \text { Rent Expense } \\& & 510 & \text { Utilities Expense }\end{array}$$

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Definitions:

Manic Episodes

Periods of abnormally elevated mood and energy levels, often associated with bipolar disorder.

Bipolar Disorder

A mental health condition that causes extreme mood swings that include emotional highs (mania or hypomania) and lows (depression).

Depression

A common and serious medical illness that negatively affects how you feel, the way you think, and how you act, and is characterized by persistent sadness and loss of interest.

Anticonvulsant Medication

Drugs used primarily to control seizures in the treatment of epilepsy and other conditions.