Yi Min started an engineering firm called Min Engineering. He began operations and completed seven transactions in May, which included his initial investment of $18,000 cash. After those seven transactions, the ledger included the following accounts with normal balances.

Required1. Prepare a trial balance for this business as of the end of May.2. The following seven transactions produced the account balances shown above.a. Y. Min invested $18,000 cash in the business.b. Paid $7,540 cash for monthly rent expense for May.c. Paid $4,600 cash in advance for the annual insurance premium beginning the next period.d. Purchased office supplies for $890 cash.e. Purchased $12,900 of office equipment on credit (with accounts payable).f. Received $36,000 cash for services provided in May.g. Y. Min withdrew $3,370 cash from the company for personal use. Prepare a Cash T-account, enter the cash effects (if any) of each transaction, and compute the ending Cash balance. Code each entry in the T-account with one of the transaction codes a through g.

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Cash Office supplies... Prepaid insurance ...... $37,600 890 4,600 Office equipment Accounts payable.... Y. Min, Capital....... ***** $12,900 12,900 18,000 Y. Min, Withdrawals.. Services revenue. Rent expense... $ 3,370 36,000 7,540