31 BT E R ole]1i 1o 2111Trial balancev For the Quarter Ended May 31, 2022For the Year Ended May 31, 2022May 31, 2022 Totals $ $ Current Attempt in Progress Julia Dumars is a licensed CPA. During the first month of operations of her business, Pharoah Company, the following events andtransactions occurred. May 12 3 7 11 12 17 31 31 Stockholders invested $21,400 cash in exchange for common stock. Hired a secretary-receptionist at a salary of $2,400 per month. Purchased $1,500 of supplies on account from Vincent Supply Company.Paid office rent of $880 cash for the month. Completed a tax assignment and billed client $3,100 for services performed.Received $2,800 advance on a management consulting engagement.Received cash of $1,600 for services performed for Orville Co. Paid secretary-receptionist $2,400 salary for the month. Paid 50% of balance due Vincent Supply Company. Julia uses the following chart of accounts: No. 101 Cash, No. 112 Accounts Receivable, No. 126 Supplies, No. 201 Accounts Payable, No. 209 Unearned Service Revenue, No. 311 Common Stock, No. 400 Service Revenue, No. 726 Salaries and Wages Expense, and No. 729 Rent Expense. UPPORT Date Explanation Ref. Debit Credit Balance J1 21400 21400J1 880 20520J1i 2800 23320J1 1600 24920J1 2400 22520 n 750 21770Accounts Receivable No. 112 Date Explanation Ref Debit Credit BalanceJ ' 3100 ' ' 3100Date Explanation Ref. Debit Credit Balance May3 ¢ J ' 1500 ' ' 1500 Accounts Payable No. 201 Date Explanation Ref Debit Credit BalanceJ1 3100 3100Supplies No. 126Date Explanation Ref. Debit Credit BalanceJ1 1500 ' 1500Accounts Payable No. 201Date Explanation Ref. Debit Credit BalanceJ1 1,500 1,500J1 750 750 Unearned Service Revenue No. 209 Date Explanation Ref. Debit Credit Balance May12 ¢ J1 2,800 2,800 Common Stock No. 311Date Explanation Ref. Debit Credit Balance i Mayl 4 n | | | 21400 | | 21,400 | ; May 12 § J1 ' | ' 2,800 | ' 2,800 | Common Stock No. 311 Date Explanation Ref. Debit Credit Balance May1l § J1 ' 21,400 ' 21,400 Service Revenue No. 400 Date Explanation Ref. Debit Credit Balance May11 § J1 3,100 ' 3,100 May17 § J1 1600 ' 4,700 Date Explanation Ref. Debit Credit BalanceJ1 ' 2,400 | ' | ' 2,400 |Rent Expense No. 729Date Explanation Ref. Debit Credit BalanceJ1 880 ' ' 880 eTextbook and Media