Accounting Cycle Rosenthal Decorating Inc. is a commercial painting and decorating contractor that began operations in January 2019. The following transactions occurred during the year a. On January 15, Rosenthal sold 500 shares of its common stock to William Hensley for $27,000. 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 $57,700 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. 1. On June 5, Rosenthal sent Arlington Builders a $9,500 bill for a painting job completed on that day. 9. On June 24, Rosenthal paid wages for work performed during the preceding week in the amount of $11,500. 1. Prepare a journal entry for each of the transactions listed above. Jan. 15 Cash Common Stock (Record issuance of stock) Jan. 24 Supplies Accounts Payable (Record purchase of supplies on account) Feb. 20 Accounts Payable Cash (Record payment of account) April 25 Accounts Receivable Service Revenue (Record services performed on account) May 12 Cash Accounts Receivable June 5 Accouns ROCIVADOV Service Revenue o (Record services performed on account) June 24 Wages Expense Cash (Record payment of wages) 2. Post the transactions to T-accounts. If a balance is zero, please enter zero ("0"). Cash Accounts Receivable Jan. 15 Apr. 25 Feb. 20 V Jun. 24 May 12 May 12 Jun. 5 End. Bal. End. Bal. Supplies Jan. 24 Accounts Payable Jan. 24 Feb. 20 End. Bal. End. Bal Common Stock Wages Expense Jan. 15 Jun, 24 End. Bal. End. Bal. Service Revenue Apr. 25 Jun. 5 End. Bal. 3. Prepare a trial balance at June 30, 2019. If an amount box does not require an entry, leave it blank. Rosenthal Decorating Inc. Trial Balance June 30, 2019 Account Debit Credit Cash Accounts Receivable Supplies Accounts Payable Common Stock Service Revenue Wages Expense