The journal of Bell Technology Solutions, Inc., includes the following entries for August, 2010: 

Requirements 

1. Describe each transaction.
2. Set up T-accounts using the following account numbers: Cash, 110; Accounts receivable, 120; Supplies, 130; Accounts payable, 210; Common stock, 310;
Service revenue, 410; Rent expense, 510; Salary expense, 520.
3. Post to the accounts. Write dates and journal references in the accounts.
Compute the balance of each account after posting.
4. Prepare the trial balance of Bell Technology Solutions at August 31, 2010.

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Aug 1 The business received cash of $86,000 and issued common stock. 2 Purchased supplies of $700 on account. 4 Paid $58,000 cash for a building. 6 9 17 23 31 Performed service for customers and received cash, $2,700. Paid $100 on accounts payable. Performed service for customers on account, $2,100. Received $1,300 cash from a customer on account. Paid the following expenses: salary, $1,200; rent, $500.