Accounting Cycle

Rosenthal Decorating Inc. is a commercial painting and decorating contractor that began operations in January. The following transactions occurred during the year:

a$.$ On January $15,$ Rosenthal sold $500$ shares of its common stock to William Hensley for $$24,000.$

b$.$ On January $24,$ Rosenthal purchased $$720$ of painting supplies from Westwood Builders' Supply Company on account.

c$.$ On February $20,$ Rosenthal paid $$720$ cash to Westwood Builders' Supply Company for the painting supplies purchased on January $24.$

d$.$ On April $25,$ Rosenthal billed Bultman Condominiums $$56,500$ for painting and decorating services performed in April.

e$.$ On May $12,$ Rosenthal received $$12,500$ from Bultman Condominiums for the painting and decorating work billed in April.

f$.$ On June $5,$ Rosenthal sent Arlington Builders a $$9,500$ bill for a painting job completed on that day.

g$.$ On June $24,$ Rosenthal paid wages for work performed during the preceding week in the amount of $$9,600.$ Required:

Prepare a journal entry for each of the transactions listed above. If an amount box does not require an entry, leave it blank. Post the transactions to $T-$accounts. If an ending balance is zero, enter $"0".$

Cash

Accounts Receivable

Supplies

End. Bal.

Common Stock

Service Revenue Prepare a trial balance at June $30.$ If an amount box does not require an entry, leave it blank.

Rosenthal Decorating Inc.

Trial Balance

June $30$