The following transactions occurred during the month for Mona Wade, CPA, PC:

a. Wade opened an accounting firm by investing \($16,500\) cash and office furniture valued at \($5,300\). The business issued \($21,800\) of common stock to Wade.

b. Paid monthly rent of $1,400.

c. Purchased office supplies on account, $700.

d. Paid employee’s salary, $1,600.

e. Paid \($400\) of the account payable created in transaction (c).

f. Performed accounting service on account, $5,800.

g. Paid cash dividends of $6,800.

Requirements 

1. Open the following four-column accounts of Mona Wade, CPA, P.C.: Cash; Accounts receivable; Office supplies; Office furniture; Accounts payable; Common stock; Dividends; Service revenue; Salary expense; Rent expense.

2. Journalize the transactions and then post to the four-column accounts. Use the letters to identify the transactions. Keep a running balance in each account.

3. Prepare the trial balance, at December 31, 2011.