Exhibit 1 General Journal
|Entry Number |Account |Debit(amount) |Credit(amount) |
|(1) |Cash |165,000 | |
| |Bank Loan Payable(15%, yearly interest rate) | |100,000 |
| |Proprietor’s Capital | |65,000 |
|(2) |Rent Expense(September) |1,485 | |
| |Cash | |1,485 |
|(3) |Merchandise Inventory |137,500 | |
| |Accounts Payable | |137,500 |
|(4) |Furniture and Fixtures(10-year life) |15,500 | |
| |Cash