1) Recording journal entries, posting to T-Accounts, and preparing a trial balance. As of February 28, 2015, Turner, Inc.'s accounting records reflected the following: $26,000 Turner, Capital 4,500 Turner, Withdrawals 0 Service Revenue 0 Salaries Expense 2,000 Rent Expense 0 Interest Expense O Utilities Expense $28,500 Cash Accounts Receivable 0 Office Supplies 0 Land 0 Accounts Payable Utilities Payable 0 0 Unearned Revenue 0 Notes Payable 0 During March, the business engaged in the following transactions: Borrowed $45,000 from the bank and signed a note payable in the name of the Mar 2 business. 4 Paid cash of $40,000 to acquire land. 9 Performed services for a customer and received cash of $5,000 13 Purchased office supplies on account, $300. 15 Performed services for a customer on account, $2,600. 18 Paid $1,200 on account 21 Paid the following cash expenses: salaries, $3,000; rent, $1,500; and interest, $400. 25 Received $3,100 from customer on account. 27 Received a $200 utility bill that will be paid next month 29 Received $1,500 for services to be performed next month 30 Turner withd rew cash of $1,800. Requirements 1) Open the accounts listed in the trial balance using the balances indicated. Use the T-Account format. 2) Journalize each transaction. 3) Post the journal entries to the ledger (use T-Account format). 4) Prepare the trial balance of Turner, Inc. as of March 31, 2017. 1) Recording journal entries, posting to T-Accounts, and preparing a trial balance. As of February 28, 2015, Turner, Inc.'s accounting records reflected the following: $26,000 Turner, Capital 4,500 Turner, Withdrawals 0 Service Revenue 0 Salaries Expense 2,000 Rent Expense 0 Interest Expense O Utilities Expense $28,500 Cash Accounts Receivable 0 Office Supplies 0 Land 0 Accounts Payable Utilities Payable 0 0 Unearned Revenue 0 Notes Payable 0 During March, the business engaged in the following transactions: Borrowed $45,000 from the bank and signed a note payable in the name of the Mar 2 business. 4 Paid cash of $40,000 to acquire land. 9 Performed services for a customer and received cash of $5,000 13 Purchased office supplies on account, $300. 15 Performed services for a customer on account, $2,600. 18 Paid $1,200 on account 21 Paid the following cash expenses: salaries, $3,000; rent, $1,500; and interest, $400. 25 Received $3,100 from customer on account. 27 Received a $200 utility bill that will be paid next month 29 Received $1,500 for services to be performed next month 30 Turner withd rew cash of $1,800. Requirements 1) Open the accounts listed in the trial balance using the balances indicated. Use the T-Account format. 2) Journalize each transaction. 3) Post the journal entries to the ledger (use T-Account format). 4) Prepare the trial balance of Turner, Inc. as of March 31, 2017