During the first month of operations (May 2018), Shreve Music Corporation completed the following selected transactions:

a. The business received cash of $46,000 and a building with a fair value of $106,000. The corporation issued common stock to the stockholders.
b. Borrowed $60,000 from the bank; signed a note payable.
c. Paid $47,000 for music equipment.
d. Purchased supplies on account, $530.
e. Paid employees’ salaries, $5,700.
f. Received $3,710 for music services performed for customers.
g. Performed services for customers on account, $12,900.
h. Paid $300 of the account payable created in transaction d.
i. Received a $700 bill for utilities expense that will be paid in the near future.
j. Received cash on account, $1,200.
k. Paid the following cash expenses: (1) rent, $1,100; (2) advertising, $800.

Requirements
1. Record each transaction directly in the T-accounts without using a journal. Use the letters to identify the transactions. Determine the ending balance in each account.

2. Prepare the trial balance of Shreve Music Corporation at May 31, 2018.