98 Chapter 2 Analyzing Transactions 4. c.$3,550 PR 2-2A Journal entries and trial balance On January 1, 2019, Sharon Matthews established Tri-City Realty, which comple following transactions during the month: OBJ. 1,2,3,4 a. Sharon Matthews transferred cash from a personal bank used for the business, $40,000. b. Paid rent on office and equipment for the month, $6,000. c. Purchased supplies on account, $3,200. d. Paid creditor on account, $1,750. e. Earned fees, receiving cash, $18,250. f. Paid automobile expenses (including rental charge) for month, $1,880, and miscel- account to an account to be Excel General Ledger Show laneous expenses, $420. g. Paid office salaries, $5,000. h. Determined that the cost of supplies used was $1,400. i. Withdrew cash for personal use, $2,000. Instructions s (a) through (), using t Cash; Supplies; Accounts Payable; Sharon Matthews, Capital; Sharon Matthews, Draw- ing, Fees Earned, Rent Expense; Office Salaries Expense; Automobile Expense; Supplies Expease Miscellaneous Expense. Explanations may be omitted. 2. Prepare T accounts, using the account titles in (). Post the journal entries to these accounts, placing the appropriate letter to the left of each amount to identify the transactions. Determine the account balances after all posting is complete. Accounts containing only a single entry do not need a balance. 3. Prepare an unadjusted trial balance as of January 31, 2019 4. Determine the following: a. Amount of total revenue recorded in the ledger. b. Amount of total expenses recorded in the ledger. c. Amount of net income for January 2 5. Determine the increase or decrease in owner's equity for January