Tides Tea Company began operations on January 1, 2018. During the first year of business, the company had the following transactions:
• January 18: The owners invested $200,000 (the par value of the stock) into the business and acquired 40,000 shares of common stock in return.
• February 1: Tides bought factory equipment in the amount of $45,000. The company rook out a long-term note from the bank to finance the purchase.
• February 28: The company paid cash for rent to cover the 12-month period from March 1, 2018, through February 29, 2019, in the amount of $27,000.
• Match 1: Tides purchased supplies in the amount of $28,000 on account.
• March 22: Tides recorded sales revenue in the amount of $120,000. Half of this amount was received in cash and half was paid on account. Ignore cost of goods sold.
• May 1: Tides received cash payments 10 pay off all the customer accounts.
• May 29: The company paid wages of $34,000 in cash.
• July 12: Tides recorded sales revenue in the amount of $180,000, all of which was paid in cash. Ignore cost of goods sold.
• July 31: Tides paid $3,200 cash for interest on the note taken out on February 1.
• August 8: Tides paid off the balance owed to a supplier for the purchase made on March 1.
• September 1: Tides paid $6,000 cash for utilities.
• October 14: Tides paid wages of $24,000 in cash.
• November 10: Tides recorded sales revenue in the amount of $218,000. One payment of $100,000 was received in cash; the remainder of this balance was sold on account. Ignore cost of goods sold.
• December 31: Tides declared and paid a $25,000 dividend.
The chart of accounts used by Tides Tea Company is as follows:

Required
a. Journalize the transactions for the year. Omit explanations.
b. Post the journal entries to the general ledger.
c. Prepare an unadjusted trial balance as of December 31.

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Chart of Accounts Group Account Tite Account # 100: Assets 101 Cash 102 Accounts Rece vabe 103 Supp ies Prepaid Rent 104 110 Equipment 112 Acc mulated Deprecation-Equipment 200: Liablit es 201 Accounts Payabe 203 Wages Payab e 2 10 Interest Payabe 220 Noles Payab e Common Stock 300: Equity 301 Retained Earnings 310 Dv dends 320 400: Revenues Sales Revenue 401 500: Expenses 501 Wage Expense 502 Utiit es Expense 503 Rent Expense 504 Administrat ve Expense 505 Insurance Expense 506 Supp ies Expense 510 Depreciation Expense -Equ pment 520 Interest Expense IncomeSummary 600: Olher 601