Assignment 1: Recording Transactions in an Expanded Ledger Complete the following assignment and submit your work to the classroom Note: you will need to access the Assignment Template in the classroom! 1. Using the T-accounts template, open (set up) the T-accounts with the balances from the Balance Sheet (located in the first worksheet in the attached template). 2. Use the T-accounts template and input the following 17 transactions into each account 3. Calculate the balance of each account. Use your Spreadsheet function feature. 4. Prepare a trial balance based on your account balances from the ledger (located in the third worksheet at the bottom of the spreadsheet). Chart of Accounts Bonnie's Batting Cages and Softball Services Account number Account Account number Account 105 Bank 305 B. Birch, Capital 110 A/R - Infield Flyers 310 B. Birch, Drawings 115 A/R - Remdal Red Sox 405 Membership Fees 120 Supplies 410 Cash Sales 125 Equipment SOS 205 AP - Cannon Sports 510 Bank Charges Expense Heating Expense Rent Expense Repair Expense 210 AP-Ewert Equipment 515 215 520 AJP - Sandhu Sporting Goods 220 Bank Loan 525 Wages Expense Transactions for August 1. Bonnie Birch, the owner, invested $40 000 in the business. 2. Borrowed 915 000 from the bank, which was deposited in the business bank account 3. Paid $1 500 to Romeyn Properties Ltd. for the monthly rent. 4. Bought office and various sport supplies for $2.000 cash 5. Purchased 543 000 worth of bats, helmets, and other sports equipment from Cannon Sports on account. The amount is due in 30 days. 6. Paid $800 cash for the heating bill received today, 7. Bought pitching machines from Ewert Equipment for $12 000 and have 30 days in which to pay 8. Equipment was repaired ($350) from Ewert Equipment and will be paid for later. 9. Bought $7 800 of miscellaneous sports supplies on account from Sandhu Sporting Goods 10. Sold a one-month team membership to the Infield Flyers for $800 on account. The amount is to be received in 15 days. 11. Sold a two-month team membership to the Remdal Red Sox for $2 200 on account. The bill is due in 30 days 12.Cash sales for the month amounted to 540 200 13. Bank charges for services foes and interest amounted to $250, which was taken directly out of the business bank account 14. Paid $2 200 cash for monthly wages. 15. Sold a one-month membership Cash for $1 300. 16. Paid the full amount to Ewert Equipment from transaction 8 ($350) 17. Owner withdrew $1 000 for personal use. CR Bonnie's Batting Cages and Softball Services Trial Balance August 31, 2020 Acct. # Account DR 105 Bank 110 AIR - Infield Flyers 115 A/R - Remdal Red Sox 120 Supplies 125 Equipment 205 AJP - Cannon Sports 210 AJP - Ewert Equipment 215 AP - Sandhu Sporting Goods Bank Loan 305 B. Birch, Capital 310 B. Birch, Drawings 405 Membership Fees 410 Cash Sales 505 Bank Charges Expense 510 Heating Expense 515 Rent Expense 520 Repair Expense 525 Wages Exponse Totals 220 Tip: Use the help menu (F1) to learn how to put two worksheets side by side on your screen. Search: view two sheets side by side. ASSETS LIABILITIES OWNERS EQUITY Bank AP. Cannon Sports B. Birch Capital Membership Fees A/P - Ewert Equipment Cash Sales balance B. Birch, Drawings AVRInfield Flyers AR - Remdal Red SOX balance AP. Sandhu Sporting Goods Bank Charges Expense Repair Expense Supplies Equipment Bank Loan Heating Expense Wages Expense Rent Expense Tip: Use the help menu (51) to learn how to put two worksheets side by side on your screen. Search: view two sheets side by side. Bonnie's Batting Cages and Softball Services BALANCE SHEET July 31, 2020 $ Assets Bank Accounts Receivable - Infield Flyers - Remdal Red Sox Supplies Equipment Liabilities 33,000 Accounts Payable - Cannon Sports $ 1,000 - Ewert Equipment 500 - Sandhu Sporting Goods 7,500 Bank Loan 50,000 Total Liabilities $ Owner's Equity B. Birch, Capital 92,000 Total liabilities and Owner's $ 10,000 22,000 500 25,000 57,500 34,500 92,000 Total Assets $ Tip: Use the help menu (F1) to learn how to put two worksheets side by side on your screen. Search: view two sheets side by side