Balance Sheet Accounts May 1 Received cheques from clients totalling $500 in the mail today in payment of amounts previously billed. 1 Made the regular monthly payment of $220 on the bank loan. 2. Purchased a new computer system for the office from Computer Accounts Co. for $9250. A down payment of $2000 was made today and the balance will be due in 30 days 3 The owner, B. Irving, invested an additional $1500 in the business 4 Paid $750 to various creditors to reduce balances owing to them. 5 Purchased additional supplies for the computer system for $500 cash 5 Returned $60 worth of supplies for a cash refund since they were defective 6 The owner had recently purchased a laser printer for per- sonal use. Since the firm required a similar piece of equip ment, the owner decided to place this printer in the business on a permanent basis instead of buying another one for the business after incurring the expense of the computer system. The printer cost Il living $1800. (Note: This transaction represents an additional investment by thecowninhabmsins 9. Ben Irving CA operates a single proprietorship that provides a wide range of accounting services to his clients. The balance sheet for this firm on April 30 is shown below. (a) Open a T-account ledger for Ben Irving CA, using the accounts and balances provided in the April 30 balance sheet. (b) Record the May transactions listed on page 56 in the leger. (c) Calculate the account balances and prepare a trial balance on May 7, 20- Bien Irving. CA Balance Sheet April 30, 20 Assets Accounts Receivable Office Supplies Land $ 5200 6 500 1 700 25 500 75 000 42 100 Liabilities Accounts Payable $ 3.750 Tees Payable 830 Bank Loan 8.520 More Payable 44 000 Total Liabilities 57.100 Owner's Equity BIrving Capital 98 900 Total Liabilities and Owner's Equity $156 000 Office Equipment Total Assets 5156 000