Book Show Me How T Accounts and the balance Wilhelm Kohl started a business in May 20 cailed Kohl's Home Repair Kohl hired a part-time college student as an assistant. Koht has decided to use the following accounts for recording transaction Assets Owner's Equity Cash Wilhelm Kohl, Capital Accounts Receivable Wilhelm Kol Drawing Office Supplies Revenue Prepaid Insurance Service Fees Equipment Expenses Van Rent Expense Liabilities Wages Expense Accounts Payable Phone Expense Gas and Oil Expense The following transactions occurred during May (a) Invested cash in the business, $25,000 (b) Purchased a used van for cash, $6,000 (c) Purchased equipment on account, $4,000 (d) Received cash for services rendered, $7,500 (e) Paid cash on account and from transaction (c. 52,300 (1) Paid rent for the month, 5050 (o) Paid phone , 5230 (h) Earned revenue on account, $4,500 Purchased office supplies for cash, 5160 03 Paid wages to an assistant, 5800 (k) Purchased a one year insurance policy, 51,100 (0) Received cash from services performed in transaction (h, 53,400 (m) Paid cash for gas and oil expense on the van, 5155 (n) Purchased additional equipment for $4,200, Daving $1,500 cash and spreading the remaining payments over the next 10 months () Farned service fees for the remainder of the month of $3,500 $1,900 in cash and $1,600 on account. (p) Withdrew cash at the end of the month $2,900 Check My Work more Check My Work uses remaining 3. Prepare a trial balance as of May 31, 20 - List the accounts in the order of Assets, Liabilities, Owner's equity, Revenue, and expenses. Kohl's Home Repair Trial Balance May 31, 20-- Account Debit Balance Credit Balance Cash ill