Paula Hill completed these transactions during May of the current year:

May 1 Began an architectural practice by opening a bank account in the name of the practice, Paula Hill, Architect, and deposited \(\$ 7,500\) therein.

1 Rented suitable office space and prepaid two months' rent in advance, \(\$ 1,500\).

2 Purchased for \(\$ 7,125\) office and drafting equipment under an agreement calling for a \(\$ 1,125\) down payment and the balance in monthly installments. Paid the down payment and recorded the account payable.

4 Purchased drafting supplies for cash, \$265.

8 Completed and delivered a set of plans to a contractor and immediately received \(\$ 785\) cash in full payment.

12 Paid the annual premium on a liability insurance policy, \(\$ 720\).

14 Purchased on credit additional drafting supplies, \(\$ 55\), and drafting equipment, \(\$ 175\).

15 Paid the salary of the draftsman, \(\$ 825\).

17 Completed and delivered a set of plans to Valley Developers on credit, \(\$ 1,800\).

21 Paid in full for the supplies and equipment purchased on May 14.

25 Completed additional architectural work for Valley Developers on credit, \(\$ 1,800\).

27 Received \(\$ 1,800\) from Valley Developers for the plans delivered on May 17 .

28 Paula Hill withdrew \(\$ 300\) cash from the practice to pay personal expenses.

31 Paid the salary of the draftsman, \(\$ 825\).

31 Paid the May utility bills, \(\$ 120\).

31 Paid \$200 cash for blueprinting expense.

\section*{Required}

1. Open the following accounts: Cash; Accounts Receivable; Prepaid Rent; Prepaid Insurance; Drafting Supplies; Office and Drafting Equipment; Accounts

Payable; Paula Hill, Capital; Paula Hill, Withdrawals; Architectural Fees Earned; Salaries Expense; Blueprinting Expense; and Utilities Expense.
2. Prepare general journal entries to record the transactions, post to the accounts, and prepare a trial balance.