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Below are the transactions of a business for the month of January 2022: 1. Michael Williams decides to open a computer programming business, which he

image text in transcribed Below are the transactions of a business for the month of January 2022: 1. Michael Williams decides to open a computer programming business, which he names Ultra-Tech. On January 1, 2022, he invests $15,000 cash in the business. 2. Ultra-Tech purchases computer equipment for $7,000 cash. 3. Ultra-Tech purchases $1,600 of computer paper and other supplies that are expected to last several months from the Alpha Supply Company. Alpha Supply allows Ultra-Tech to pay this bill next month. 4. Ultra-Tech customers for programming services it has provided. 5. Ultra-Tech receives a bill for $250 from the local newspaper for advertising the opening of its business. It postpones payment of the bill until a later date. 6. Ultra-Tech provides $3,500 of programming services for customers. Cash of $1,500 is received from customers, and the balance of $2,000 is billed to customers on account. 7. The expenses paid in cash for January are store rent, $600; salaries of employees, $900; and utilities, $200. 8. Ultra-Tech pays its $250 advertising bill in cash. The bill was previously recorded in transaction (5). 9. The sum of $600 in cash is received from some customers who were billed for services in transaction (6). 10. Michael Williams withdraws $1,300 in cash from the business for his personal use. Required: Prepare journal entries, T-accounts, and Trial Balance from the above-given transactions

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