Use the information in Problem 2-69 to complete the following requirements.

REQUIRED

a. Prepare journal entries for each of the transactions 1 through 11.

b. Set up T-accounts, including beginning balances, for each of the accounts used in part a. Post the journal entries to those T-accounts.

Data from 2-69:

Kross, Inc., provides appraisals and feasibility studies. On January1, 2019, its beginning account balances are as follows: Cash, $6,700; Accounts Receivable, $ 14,800; Notes Payable, $2,500; Accounts Payable, $600; Retained Earnings, $12,400; and Common Stock, $6,000. The following transactions occurred during January, and company accounts include the following: Cash, Accounts Receivable, Vehicles, Accounts Payable, Notes Payable, Services Revenue, Rent Expense, Interest Expense, Salary Expense, Utilities Expense, Common Stock, and Retained Earnings.

1. Paid $950 cash for January rent.

2. Received $8,800 cash on customers' accounts.

3. Paid $500 cash toward accounts payable.

4. Received $1,600 cash for services performed for customers.

5. Borrowed $5,000 cash from bank and signed note payable for that amount.

6. Billed the city $6,200 for services performed, and billed other credit customers for $1,900 in services.

7. Paid $4,000 cash for salary of assistant.

8. Received $410 invoice for January utilities expense.

9. Declared and paid a $6,000 cash dividend.

10. Paid $9,800 cash to acquire a vehicle (on January 31) for business use.

11 . Paid $50 cash to bank for January interest on notes payable.