Company A was incorporated on January 1, 2010 with an initial capital of 5,000 shares of common stock having $20 par value. During the first month of its operations, the company engaged in following transactions:

Date	Transaction
Jan 2	An amount of $36,000 was paid as advance rent for three months.
Jan 3	Paid $60,000 cash on the purchase of equipment costing $80,000. The remaining amount was recognized as a one year note payable with interest rate of 9%.
Jan 4	Purchased office supplies costing $17,600 on account.
Jan 13	Provided services to its customers and received $28,500 in cash.
Jan 13	Paid the accounts payable on the office supplies purchased on January 4.
Jan 14	Paid wages to its employees for first two weeks of January, aggregating $19,100.
Jan 18	Provided $54,100 worth of services to its customers. They paid $32,900 and promised to pay the remaining amount.
Jan 23	Received $15,300 from customers for the services provided on January 18.
Jan 25	Received $4,000 as an advance payment from customers.
Jan 26	Purchased office supplies costing $5,200 on account.
Jan 28	Paid wages to its employees for the third and fourth week of January: $19,100.
Jan 31	Paid $5,000 as dividends.
Jan 31	Received electricity bill of $2,470.
Jan 31	Received telephone bill of $1,494.
Jan 31	Miscellaneous expenses paid during the month totaled $3,470

1) post the journal entries to T-accounts

2) prepare a trial balance.

3) Assuming the following facts, prepare adjusting journal entries at the end of the quarter (Hint: there are four adjusting J.E.s).

a. There is no other transactions before 3/31/2010.

b. The equipment is depreciated at a straight-line basis for 20 years.

c. On 3/31, only 1/3 of the supplies remain on hand

4) prepare the adjusted trial balance.