1.2,3,4,5, PROBLEM 2-38 D. Johnston, a physical therapist, opened Johns accountant provided the following chart of Owner's Equity D, Johnston, Capital Expenses Salary Expense counts Receivable Office Equipment Office Furniture JohnstonDrawing Rent Expense Utilities Expense Miscellaneous Expense Professional Fees Liabilities Accounts Payable The following transactions occurred during July of this year Johnston deposited $35,000 in a bank account in the name of the business. t filing cabinets on account from Muller Office Supply, $560. Paid cash for chairs and carpeting for the waiting room, $835, Ck. No. 1000. Bought a photocopier from Rob's Office Equipment, 5650, paying $250 in cash and placing the balance on account, Ck. 1001 Received and paid the telephone bill, which included installation charges, 1 Ck. No. 1002 d. Sold professional services on account, $2,255 s Received and paid the bill for the state physical therapy convention, s445. Ck. No. 1003. h. Received and paid the electric bill, $335, Ck. No. 1004. i. Received cash on account from credit customers, $1,940. Paid on account to Muller Office Supply, s250, Ck. No. 1005. k Paid the office rent for the current month, $1,245, Ck. No. 1006. L Sold professional services for cash, $1,950. m. Paid the salary of the receptionist, $960, Ck. No. 1007 n. Johnston withdrew cash for personal use, $1,200, Ck. No. 1008. Check Flgure Net Income, $ Required 1. Record the owner's name in the Capital and Drawing T accounts. 2. Correctly place the plus and minus signs for each T account and label the debit and credit sides of the accounts 3. Record the transactions in the T accounts. Write the letter of each entry to identify the transaction. 4. Foot the T accounts and show the balances. 5. Prepare a trial balance as of July 31, 20-- 6. Prepare an income statement for July 31, 20 7. Prepare a statement of owner's equity for July 31,20 8. Prepare a balance sheet as of July 31, 20