22 Recording transactions LO3, 4,5 The trial balance for ShirtCraft Limited at 31 January is shon ShirtCraft Limited Trial balance 31 January Credit Debit $5 600 12 890 9235 1 500 30 500 Accounts Receivable Supplies Prepaid Rent Property, Plant E Equipment $7 625 6400 15000 25000 9650 Accounts Payable Unearned Revenue Notes Payable Contributed Capital Sales Revenue Salaries Expense 2300 Electricity Expense Dividends 1000 Totals S63675 $63675 During February the following transactions occurred 1 Billed customers for orders shipped, $2500. 1 Paid $150 interest on note from bank. Received payment from customers billed in January, $4500. 8 4 Bought office supplies on account, $560. 2 Completed an order for which payment had previously been received in January, $3500. 8 Paid creditors for purchase of supplies in January, $1895. 6 Paid dividends to shareholders, $1000. 7 Paid salaries of $2100; paid electricity of $775 Required Prepare opening T-accounts for the month of February b a Prepare jounal entries for transactions in the month of c Post journal entries to appropriate T-accounts d Prepare a trial balance at 28 February