From the following transactions for Lowe Company for the month of December,
(a) Prepare journal entries (assume that it is page 1 of the journal),
(b) Post journal entries to the ledger (use a four-column account),
(c) Prepare a trial balance.
201X
Dec. 1 Jen Lowe invested $52,000 in the business.
4 Bought equipment from Ham Co. for $2,000 on account.
15 Billed Kin Co. for services rendered, $14,000.
18 Received $4,000 cash for services rendered.
24 Paid salary expense, $1,800.
28 Jen withdrew $1,000 for personal use.
A partial chart of accounts includes Cash, 111; Accounts Receivable, 112; Equipment, 121; Accounts Payable, 211; J. Lowe, Capital, 311; J. Lowe, Withdrawals, 312; Fees Earned, 411; and Salaries Expense, 511.