2-33A On December 1, 1993, a group of individuals formed a corporation to establish the Beeper, a neighborhood weekly newspaper featuring want ads of individuals and adver- tising of local firms. The free paper will be mailed to about 8,000 local residents; revenue will be generated from advertising and want ads. The December transactions are summarized below: Dec. 1 Sold capital stock of Beeper, Inc., for cash, $35,000. 2 Paid December rent on furnished office, $950. 3 Purchased for $800, on account, T-shirts displaying company logo. The T- shirts were distributed at a grand opening held today. 5 Paid to creditor on account, $800. 8 Collected want ad revenue in cash, $2,300. 12 Paid post office for cost of bulk mailing, $82C 14 Billed various firms for advertising in first two issues of the newspaper. $5,600. 15 Paid Acme Courier Service for transporting newspapers to post office, 570 16 Paid for printing newspaper, $2,850. 18 Collected want ad revenue in cash, $2,420. 31 Received invoice for December utilities, to be paid in January, $250. 31 Paid for printing newspaper, $2,850. 31. Paid December salaries, $3,800. 31 Billed various firms for advertising in two issues of the newspaper, $6,670. 31 Paid post office for cost of bulk mailing, $860. 31 Paid Acme Courier Service for transporting newspapers to post office, $70. 31 Collected $5,200 on accounts receivable. 31 Purchased fax machine for office in exchange for a six-month note payable, $1,200. REQUIRED a. Set up running balance accounts for the following: Cash, Accounts Receivable, Office Equipment, Notes Payable, Accounts Payable, Capital Stock, Advertising Revenue, Want Ad Revenue, Printing Expense, Advertising Expense, Utilities Expense, Salaries Expense, Rent Expense, and Delivery Expense. Record the fore- going transactions in the accounts. 1. Prepare journal entries to record these transactions in journal form. Use the accounts listed below. 2. Set up the following T accounts and post all the journal entries: Cash; Accounts Receivable; Supplies; Prepaid Insurance; Equipment; Truck; Notes Payable; Accounts Payable; Jerry Green, Capital; Jerry Green, Withdrawals; Painting Fees Earned; Wages Expense; Telephone Expense; and Truck Expense. 3. Prepare a trial balance for Green Painting Service as of June 30, 20xx. 4. Compare how recognition