alize transactions and post to T-accounts. Do a trial balance. Due at the beginning of next class. All transactions are in October, 2018 * O'Dell started a business in the form of a corporation) by depositing $33,000 of his own money in the business bank account and he received common shares. 3. Purchased supplies and furniture on account, $500 and $2,000. 4. Performed legal services for cash, $1,500. 7. Paid cash 22,000 for land site for office. 11. Billed a client 800 for work done. 16. Paid for the July 3 furniture purchased on account. 17. Received a phone bill and paid it, 110. 18. Received a partial payment from a client on account, 400. 22. Received and paid water and hydro bills, 130. 29. Received 1,800 for legal work. 31. Paid secretary's salary, 1,300 31. Declared and paid dividends of 2,200 Prepare the necessary journal entries to record the following transactions in 2017 for Shula Company. Show all your work on the back of this page. Use the form below for the journal entries. 2017 July 31 Sold a delivery truck for $25,000 cash. The delivery truck originally cost $57,000 and had accumulated depreciation of $19,000 on the date of the sale. Assume depreciation on the truck is normally recorded every December 31. Depreciation is calculated on a declining-balance basis using a rate of 30%. (6 marks) Aug. 31 Equipment with a 4-year useful life was purchased on January 1, 2015, for $15,000 and was sold for $9,000. The equipment had been depreciated using the straight-line method with an estimated residual value of $3,000. Depreciation Expense was last recorded on December 31, 2016. (6 marks)