Make T-accounts for the following accounts that appear in the general ledger of The Canine Hospital, owned by Kali Wells, a veterinarian: Cash; Accounts Receivable; Supplies; Office Equipment; Accounts Payable; Common Stock; Dividends; Professional Fees Earned; Salaries Expense; and Rent Expense. Using the accounting equation, record each of the transactions in columnar format. Prepare journal entries and record the following December transactions in the T-accounts and key all entries with the number identifying the transaction. Finally, determine the balance in each account and prepare a trial balance as of December 31.

1 Wells opened a checking account on December 1 at Biltmore Bank in the name of The Canine Hospital and deposited \(\$ 31,000\) cash; Wells received common stock for her investment.

2 Paid rent for December, \(\$ 2,750\).

3 Purchased office equipment on account, \(\$ 2,900\).

4 Purchased supplies for cash, \(\$ 1,800\).

5 Billed clients for services rendered, \(\$ 8,300\).

6 Paid secretary's salary, \(\$ 1,950\).

7 Paid \(\$ 1,500\) on account for the equipment purchased on December 3.

8 Collected \(\$ 4,900\) from clients previously billed for services.

9 The firm paid stockholders \(\$ 1,500\) cash as a dividend.