Daniel Kelly, an attorney, opened his law practice on October 1. Prepare journal entries for the following October transactions, post the entries to the T-accounts, and prepare a trial balance: 1) Kelly started his law practice by contributing $31,200 cash to the business on October 1 , receiving shares of common stock in the company. 2) Purchased office equipment on account, $16,640. 3) Paid office rent for October, $1,120. 4) Paid \$15,360 to access online legal database for two years. 5) Billed clients for services rendered, $18,080. 6) Made $9,600 payment on account for the equipment purchased on October 2. 7) Paid legal assistant's salary, $4,480. 8) Collected $15,040 from clients previously billed for services. 9) Received invoice for October utilities, $288; it will be paid in November. 10) The company paid stockholders $2,400 as a cash dividend. 4) To record prepayment for database service Accounts receivable Legal fees earned \begin{tabular}{l|lr} \hline & 18080 & \\ & & 18080 \\ \hline \end{tabular} 5) To record billing for legal services Accounts payable Cash 796009600 6) To record payment on equipment Salaries expense Cash 7) To record payment of salaries Cash Accounts receivable 8) To record receipt of cash from customers Utilities expense Accounts payable 9) To record utilties expense Dividends Cash 10) To record cash payment of dividends Foe T-accounss, eeker your arvwen in the first avalable field under the apprept ate debit or credit column. Daniel Kelly, Attorney at Law Trial Balance October 31 Cash Accounts receivable Legal database subscription Office equipment Accounts payable Common stock Dividends Legals fees earned Salaries expense Rent expense Utilities expense Totals $$