3A-2. On September 1, 201X, Brittney Slater opened Brittney's Art Studio. The L01,2,3 4 following transactions occurred in September: S50/QB 201X Sept. 1 Brittney Slater invested $20,000 in the art studio. 1 Paid 10 months rent in advance, $2,100 3 Purchased $2,100 of equipment from Ushem Co. on account. 5 Received $7,000 cash for art-training workshop for teachers. 8 Purchased art supplies for $250 cash. 9 Billed Simon Co. $2,000 for group art lesson for its employees. Check Figure: Trial Balance Total $31,100 10 Paid salaries of assistants, $700 Brittney withdrew $700 for personal use. Paid electric bill, $100. Paid telephone bill for September, $200 15 28 29 96CHAPTER 3 Beginning the Accounting Cycle Your tasks are to do the following: a. Set up the ledger based on the following chart of accounts using four- column accounts. b. Journalize (journal is page 1) and post the September journal entries. c. Prepare a trial balance as of September 30, 201x. The chart of accounts for Brittney's Art Studio is as follows: Chart of Accounts Owner's Equity 311 312 Revenue 411 Expenses 511 521 531 Assets Cash Accounts Receivable B. Slater, Capital B. Slater, Withdrawals 112 114 Prepaid Rent 121 Art Supplies 131 Equipment Liabilities 211 Art Fees Earned Electrical Expense Salaries Expense Telephone Expense Accounts Payable