Krenz Car Care,which Is Owned and Operated by Karl Krenz,began

Essay

Krenz Car Care,which is owned and operated by Karl Krenz,began business as a corporation in September of the current year.Karl,a master mechanic,had no experience with keeping a set of books.As a result,Karl entered all of September's transactions directly to the ledger accounts.When he tried to locate a particular entry he found it to be confusing and time consuming.He has hired you to improve his accounting procedures.The accounts in his general ledger are as follows:

Prepare the general journal entries,in chronological order (a)through (e),from the T-account entries shown.Include a brief description of the probable nature of each transaction.