During August, the following transactions occurred: Aug 1 Paid August rental cost for aircraft, dockage, and dockside office, $6,800. 2 Paid the insurance premium for August, $3,600. 3 Paid for August advertising in various sports magazines, $2,300. 4 Rendered fly-in services for various groups for cash, $17,550. 5 Billed the Canadian Ministry of Natural Resources for services in transporting mapping personnel, $4,700. 6 Received $21,200 on account from clients. 7 Paid $2,500 on accounts payable. 8 Billed various clients for services, $20,200. 9 Paid interest on an outstanding note payable for August, $155. 10 Paid August wages, $15,600. 11 Received invoice for the cost of fuel used during August, $4,400. 12 Paid a cash dividend, $5,300. Required a. Set up accounts for each item in the August 1 trial balance and enter the beginning balances. Also provide similar accounts for the following items: Service Fees Earned, Wage Expense, Advertising Expense, Rent Expense, Fuel Expense, Insurance Expense and Interest Expense. Create journal entries and record the transactions for August in the appropriate T-accounts, using the dates given. b. Prepare a trial balance as of August 31, 2016.