7) The following transactions occurred for Mission Cable Services. July2 Received $20,000 contribution from Thomas in exchange for Common Stock 4 Paid utilities expense of $800. 5 Purchased equipment on account, $4,200. 10 Performed services for a client on account, $4.000. 12 Borrowed $14,000 cash, signing a notes payable. 19 Cash dividends of $1,000 were paid to stockholders. 21 Purchased office supplies for $1,600 and paid cash. 27 Paid the liability from July 5. a) Journalize the transactions of Mission Cable Services. Include an explanation. b) 1. Open T-accounts for Mission Cable Services. 2. Compute the July 31 balance for each account. 8) Melody Instruments, Inc. sells musical instruments. On December 31, 2017, after its first month of business, Melody Instruments, Inc. had the following balances in its accounts, listed alphabetically. Accounts Receivable $5,000 Accounts Payable 15,000 Advertising Expense 2,000 Building 16,500 Cash 2 Common Stock Dividends Equipment Land Notes Payable Office Supplies 50,000 1,200 2,000 70,000 60,000 3,400 Salaries Expense Service Revenue Utilities Expense 4,000 72,000 4,100 Determine the balance in the cash account and prepare the trial balance