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answer all the questions with detail, i will give you a thumb! thanks. Mulberry Services sells electronic data processing services to firms too small to

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answer all the questions with detail, i will give you a thumb! thanks.

Mulberry Services sells electronic data processing services to firms too small to own their own computing equipment. Mulberry had the following accounts and account balances as of January 1, 2018: 14,000 Accounts Payable Accounts Receivable 130,000 Common Shares 114,000 Cash Interest Payable Notes Payable (Long-Term) Prepaid Rent (Short-Term) Retained Earnings, 12/31/2017 6,000 8,000 80,000 96,000 16,000 During 2018, the following transactions occurred (the events described below are aggregations of many individual events): During 2018, Mulberry sold $690,000 of computing services, all on credit. . b. Mulberry collected $570,000 from the credit sales in transaction a and an additional $129,000 from the accounts receivable outstanding at the beginning of the year. Mulberry paid the interest payable of $8,000. C. d. Wages of $379,000 were paid in cash. Repairs and maintenance of $9,000 were incurred and paid. . f. The prepaid rent at the beginning of the year was used in 2018. In addition, $28,000 of computer rental costs were incurred and paid. There is no prepaid rent or rent payable at year-end. g. Mulberry purchased computer paper for $13,000 cash in late December. None of the paper was used by year-end. h. Advertising expense of $26,000 was incurred and paid. i. Income tax of $10,300 was incurred and paid in 2018. j. Interest of $5,000 was paid on the long-term loan Required: 1. Establish T-accounts for the accounts listed above and enter the beginning balances. Use a chart of accounts to order the T-accounts. 2. Analyze each transaction. Journalize as appropriate. (Note: Ignore the date because these events are aggregations of individual events.) 3. Post your journal entries to the T-accounts. Add additional T-accounts when needed. 4. Use the ending balances in the T-accounts to prepare a trial balance

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