Following is the chart of accounts of Sanchez Realty Company:

Assets

111 Cash

113 Accounts Receivable

115 Supplies

117 Prepaid Insurance

124 Office Furniture

Liabilities

221 Accounts Payable

Owner’s Equity

311 T. Sanchez, Capital

312 T. Sanchez, Drawing

Revenue

411 Professional Fees

Expenses

511 Salary Expense

512 Rent Expense

513 Advertising Expense

514 Utilities Expense

Sanchez completed the following transactions during April (the first month of business):

April 1 Sanchez deposited $ 20,000 in a bank account in the name of the business.

5 Sold realty services on account to R. Miller, $ 7,500, Inv. No. 100.

7 Paid a bill for advertising, $ 250, Ck. No. 1001.

8 Bought supplies on account from Taylor Supply, $ 420, Inv. No. 2340.

9 Performed realty services for clients for cash, $ 2,530.

15 Received and paid the bill for utilities, $ 280, Ck. No. 1002.

17 Bought a desk and chair from Lewis Furniture, $ 1,800, paying $ 300 in cash and placing the balance on account, Ck. No. 1003.

20 Bought liability insurance for one year, $ 1,800, Ck. No. 1004.

21 Paid the rent for the current month, $ 1,000, Ck. No. 1005.

25 Paid on account to Taylor Supply, $ 420, for supplies purchased on April 8, Ck. No. 1006.

27 Received $ 7,500 from R. Miller for services performed on April 5.

28 Received and paid the telephone bill for the month, $ 150, Ck. No. 1007.

29 Paid the salary of the office assistant, $ 1,030, Ck. No. 1008.

30 Sanchez withdrew cash for his personal use, $ 3,000, Ck. No. 1009.

Required

1. Journalize the transactions for April in the general journal, beginning on page 1.

2. Post the entries to the general ledger accounts.

3. Prepare a trial balance as of April 30, 20—.

4. Prepare an income statement for the month ended April 30, 20—.

5. Prepare a statement of owner’s equity for the month ended April 30, 20—.

6. Prepare a balance sheet as of April 30, 20—.