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

a. The business received cash of €32,000 and a building valued at €52,000. The corporation issued ordinary shares to the shareholders.

b. Borrowed €35,800 from the bank; signed a note payable.

c. Paid €32,000 for music equipment.

d. Purchased supplies on account, €200.

e. Paid employees’ salaries, €2,300.

f. Received €1,700 for music service performed for customers.

g. Performed service for customers on account, €2,800.

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

i. Received a €900 bill for advertising expense that will be paid in the near future.

j. Received cash on account, €1,600.

k. Paid the following cash expenses: (1) rent, €1,200; (2) advertising, €800.

❙ 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 Silver Entertainment Corporation, at March 31, 20X6