1 and 2. Enter the transactions in T accounts, identifying each transaction with its corresponding letter. Foot and balance the accounts where necessary. Assets Liabilities Owner's Equity Dr. + Cr. - Dr. - Cr. + Dr.- Cri + Cash Accounts Payable Wilhelm Kohl, Capital Bal! Bal. Accounts Receivable Drawing Expenses Revenues Dr. + Cr. - Dr. + Cr. - Dr. - Cr. + Bal. Service Fees Office Supplies w. Kohl, Drawing Rent Expense 3. Prepare a trial balance as of May 31, 20--. If an amount box does not require an entry, leave it blank. Kohl's Home Repair Trial Balance May 31, 20- Account Debit Balance Credit Balance Prepaid Insurance Wages Expense Equipment Telephone Expense Bal. Van Gas & Oil Expense T Accounts and Trial Balance Wilhelm Kohl started a business in May 20-- called Kohl's Home Repair Kohl hired a part-time college student as an assistant. Kohl has decided to use the following accounts for recording transactions: Assets Owner's Equity Cash Wilhelm Kohl, Capital Accounts Receivable Wilhelm Kohl, Drawing Office Supplies Revenue Prepaid Insurance Service Fees Equipment Expenses Van Rent Expense Liabilities Wages Expense Accounts Payable Phone Expense Gas and Oil Expense The following transactions occurred during May: 9 (a) Invested cash in the business, $24,905. (b) Purchased a used van for cash, $5,935. (0) Purchased equipment on account, $3,840. c (d) Received cash for services rendered, $7,522. (e) Paid cash on account owed from transaction (c), $2,165. (f) Paid rent for the month, $831. (g) Paid telephone bill, $244. , (h) Earned revenue on account, $4,642. (1) Purchased office supplies for cash, $195. 6) Paid wages to an assistant, $830. (k) Purchased a one-year insurance policy, $1,130. Received cash from services performed in transaction (h), $3,364. (m) Paid cash for gas and oil expense on the van, $117. (n) Purchased additional equipment for $4,094, paying $1,684 cash and spreading the remaining payments over the next 10 months. (0) Earned service fees for the remainder of the month of $3,559: $1,742 in cash and $1,817 on account. 0 (P) Withdrew cash at the end of the month, $3,003. Required: 1 and 2. Enter the transactions in T accounts, identifying each transaction with its corresponding letter. Foot and balance the accounts where necessary. 3. Prepare a trial balance as of May 31, 20--. If an amount box does not require an entry, leave it blank