SpecialJ SubS #2 Corporation had the following trial balance at 3/1/25: Opening trial balance Debit Credit Cash 100 Receivables 450 Other current assets Equipment Payables Long-term debt Contributed capital Retained earnings 0. 445 105 Revenue Selling Expense Administrative Expense Other revenue or expense Accounts receivable beginning balance Beginning balance of accounts receivable represents reccivable from customer Joseph Smith. TB and Chart of accounts The trial balance above contains all accounts in the chart of accounts. You should be able to complete this exercise without adding additional general ledger accounts. ctivity for the month of March follows: Date 3/1/25 Activity The company completed one tax retun for a client and billed the client, Joseph Smith, $500 on invoice #101. The company completed one consulting service and billed the client, Joseph Smith, $100 on invoice #102. The company lent $1,000 to a vendor so that the vendor could rent a distribution facility closer to the company. This is a two-ycar note, with principle and 8% interest due at maturity. The company purchased one week worth of office supplies for use in the administrative offices, $600 cash. 3/2/25 3/3/25 3/4/25 3/5/25 The company paid current month's administrative expenses in cash, S150. The company paid sales commissions, S60. 3/6/25 3/15/25 The company completed one tax return for a client and billed the client, Regan Elise, $700 on invoice #103. 3/16/25 Collected $450 from Joseph Smith on invoice #100 (from previous month). 3/17/25 The company completed consulting service for a client, Riggs Auto, and billed the client $300 on invoice #104 3/31/25 The company paid administrative salaries, S70. 3/31/25 The company completed one tax return for a client and billed the client, Riggs Auto, $800 on invoice #105. 3/31/25 The company accrues $7 of interest receivable on the note receivable from the vendor. There are no other adjusting entries for this month. 3/31/25 Collected $400 from Joseph Smith on invoice #101. 3/31/05 Paid $25 dividends to owners. THER FACTS AND ASSUMPTIONS The company uses a batch posting system. In that system, detail transaction activity is recorded in the specialized journals and general jourmal. Then, the totals from the specialized journals are posted, in batch amounts, to the general ledger. General jouma entries are posted individually from the general journal to the general ledger. For simplicity, assume that all sales are made on account. Cash sales are not allowed. The company has only one revenue account, Revenue, and three expense accounts, Selling Expense, Administrative Expense, and Other Revenue and Expense. Although a large company would have many special journals, we will fit all company activities into one of three specialized journals or the general journal.