Karleen's Catering Service provides catered meals to individuals and businesses. Karleen's purchases its food ready to serve from Mel's Restaurant. In order to prepare a realistic trial balance, the events described below are aggregations of many individual events during 2019.

a. Common stock was issued for $22,000.

b. During the year, Karleen's paid office rent of $13,500.

c. Utilities expenses incurred and paid were $5,320.

d. Wages of $58,800 were earned by employees and paid during the year.

e. During the year, Karleen's provided catering services:

On credit.......... $128,200

For cash ...............18,650

f. Karleen's paid $59,110 for supplies purchased and used during the year.

g. Karleen's paid dividends in the amount of $3,500.

h. Karleen's collected accounts receivable in the amount of $109,400.

Required:

1. Analyze the events for their effect on the accounting equation.

2. Prepare journal entries.

3. Post the journal entries to the appropriate T-accounts.

4. Prepare a trial balance at December 31, 2019. Assume that all beginning account balances at January 1, 2019, are zero.