(Learning Objectives 4, 5: Recording transactions directly in T-accounts; preparing and using a trial balance) During the fi rst month of operations (November 20X6), Stein Services Corporation completed the following selected transactions:

a. The business received cash of $28,000 and a building valued at $52,000. The corporation issued ordinary shares to the shareholders.

b. Borrowed $37,300 from the bank; signed a note payable.

c. Paid $33,000 for music equipment.

d. Purchased supplies on account, $500.

e. Paid employees’ salaries, $2,500.

f. Received $1,600 for music service performed for customers.

g. Performed service for customers on account, $3,200.

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

i. Received an $800 bill for utility expense that will be paid in the near future.

j. Received cash on account, $1,200.

k. Paid the following cash expenses: (1) rent, $1,200; (2) advertising, $700.

❙ 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 Stein Services Corporation at November 30, 20X6.