Inferring Transactions from T-Accounts}
The following T-accounts summarize the operations of Chen Construction Company for July 2018.

\section*{Required:}
1. Assuming that only one transaction occurred on each day (beginning on July 2) and that no dividends were declared or paid, describe the transactions that most likely took place.
2. Prepare a trial balance at July 31, 2018.
YOUDECIDE

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Assets Liabilities Cash Accounts Payable 7/1 200 7/1 1,100 7/2 1,000 7/5 150 7/5 150 7/4 250 7/7 2,500 7/9 700 7/11 150 7/14 750 Accounts Receivable 7/1 1,400 7/11 150 Supplies 7/1 750 7/4 250 Land 7/1 3,000 7/9 700 Shareholders' Equity Common Shares 7/1 4,000 7/2 1,000 Retained Earnings 7/1 250 7/14 750 7/7 2,500