The trial balance of the law practice of Damon Reed, Attorney, Professional Corporation (P.C.), at November 15, 19X3, follows.

During the rest of November, the business completed the following transactions:
Nov. 16 Collected \(\$ 4,000\) cash from a client on account.
17 Performed tax service for a client on account, \(\$ 1,700\).
19 Paid utilities, \(\$ 100\).
21 Paid on account, \(\$ 2,600\).
22 Purchased supplies on account, \(\$ 200\).
23 Declared and paid dividends of \(\$ 2,100\).
23 Used personal funds to pay for the renovation of private residence, \(\$ 55,000\).
24 Received \(\$ 1,900\) cash for legal work just completed.
30 Paid rent, \(\$ 700\).
30 Paid employees' salaries, \(\$ 1,800\).
\section*{Required}
1. Record the transactions that occurred during November 16 through 30 in Page 6 of the journal. Include an explanation for each entry.
2. Post the transactions to the ledger, using dates, account numbers, journal references, and posting references. Open the ledger accounts listed in the trial balance together with their balances at November 15. Use the four-column account format illustrated in the chapter. Enter Bal. (for previous balance) in the Item column, and place a check mark \((\checkmark)\) in the journal reference column for the November 15 balance of each account.
3. Prepare the trial balance of Damon Reed, Attorney, P.C., at November 30, 19X3.

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DAMON REED, ATTORNEY, P.C. TRIAL BALANCE NOVEMBER 15, 19X3 Account Number Account Debit Credit Cash. $ 3,000 12 Accounts receivable. 8,000 13 Supplies.. 600 14 Land.. 35,000 21 Accounts payable. $ 4,400 31 Common stock 18,000 32 Retained earnings. 22,000 33 Dividends.... 2,100 41 Service revenue. 7,100 51 Salary expense... 1,800 52 Rent expense. 700 53 Utilities expense 300 Total.. $51,500 $51,500