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1. Johansen Legal Services Inc. had the following transactions in its first week of business: a. Jessica Johansen started the business, by contributing $20,000 and

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1. Johansen Legal Services Inc. had the following transactions in its first week of business: a. Jessica Johansen started the business, by contributing $20,000 and receiving common stock. b. Paid $2,250 to cover the first three months' rent. c. Purchased $500 of supplies. She paid cash for the purchase. d. Purchased a computer for $1,500 paying $200 cash and signing a note for the balance. e. Finished a job for a customer earning $180. The customer paid cash. f. Received a $500 down payment for services that will be provided next week. g. Received an electric bill for $125 which is due to be paid in three weeks. h. Completed a notary job for $45. The customer asked to be billed. Prepare the necessary journal entries to record these transactions. If an entry is not required for any of these transactions, state this and explain why. 2. Prepare an unadjusted trial balance, in correct format, from the following alphabetized account information. Assume accounts have normal balances. Accounts payable $ 9,500 Accounts receivable 14,260 Cash 22,222 Common stock 30,000 Dividends 5,000 Equipment 12,000 Investments (short term) 25,444 Land 20,000 Notes payable 26,000 Retained earnings 12,815 Salaries expense 53,500 Service revenue 89.550 Supplies 2,750 Utility expense 12,689

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