2.16 7 points Transactions: a. Sutton invested $90,000 in cash to start the business. b. Paid $6,000 for the current month's rent. c. Bought office furniture for $10,580 in cash. d. Performed services for $8,200 in cash. e. Paid $1,250 for the monthly telephone bill. f. Performed services for $14,000 on credit. g. Purchased a computer and copier for $18,000; paid $7,200 in cash immediately with the balance due in 30 days. h. Received $7,000 from credit clients. i. Paid $2,800 in cash for office cleaning services for the month. j. Purchased additional office chairs for $5,800; received credit terms of 30 days. k. Purchased office equipment for $22,000 and paid half of this amount in cash immediately, the balance is due in 30 days. I. Issued a check for $9,400 to pay salaries. m. Performed services for $14,500 in cash. n. Performed services for $16,000 on credit. o. Collected $8,000 on accounts receivable from charge customers. p. Issued a check for $2,900 in partial payment of the amount owed for office chairs. q. Paid $725 to a duplicating company for photocopy work performed during the month. r. Paid $1,280 for the monthly electric bill. s. Sutton withdrew $5,500 in cash for personal expenses. 7 Statement Owners Eqty Determine the account balances and prepare a trial balance for the month ended June 30, 20X1. VINCENT SUTTON, LANDSCAPE CONSULTANT 2.16 points Trial Balance June 30, 20X1 Account Name Debit Credit Cash S 69,065 Rent expense 6,000 Office furniture 16,380 Fees income 59,700 Telephone expense 1,250 Accounts receivable 15,000 Accounts payable 24,700 Office equipment 40,000( Miscellaneous expense 725 X 5,800X 11,000X Salaries expense 9,400 Fees income 14,500 16,000 ( Total $ 248,020 41,500