Journalize and Post Basic Transactions

Essay

Journalize and post basic transactions
Precision Grading Co.was organized to grade construction sites.
* On June 1,owner Dave Precision deposited $90,000 in a new bank account opened in the name of the business in exchange for stock.
* On June 3,the company acquired grading equipment costing $89,000,paying $43,000 cash and signing a note payable for the balance.
* On June 10,the company paid $13,000 of the amount owed for equipment acquired on June 3.
Instructions: Journalize these three transactions and post to the ledger accounts.