During the first month of operations (October 2012), Self Music Services Corporation completed the following selected transactions:

a. The business received cash of $25,000 and a building valued at $51,000. The corporation issued common stock to the stockholders.

b. Borrowed $34,300 from the bank; signed a note payable.

c. Paid $31,000 for music equipment.

d. Purchased supplies on account, $200.

e. Paid employees’ salaries, $2,200.

f. Received $1,400 for music services performed for customers.

g. Performed services for customers on account, $2,800.

h. Paid $100 of the account payable created in Transaction d.

i. Received a $700 bill for utility expense that will be paid in the near future.

j. Received cash on account, $1,900.

k. Paid the following cash expenses: (1) rent, $1,100; (2) advertising, $500.

Requirements

1. Record each transaction directly in the T-accounts without using a journal. Use the letters to identify the transactions.

2. Prepare the trial balance of Self Music Services Corporation at October 31, 2012.