During September, the following transactions were completed:

Sept. 1 Borrowed $10,000 from the bank and signed a two-year, 5% note payable.

2 Paid September rent, $500.

8 Paid employee salaries, $1,050.

12 Received $1,500 cash from customers on account.

15 Received $5,700 cash for services performed in September.

17 Purchased additional supplies on account $1,300.

20 Paid creditors $2,300 on account.

21 Paid September telephone bill, $200.

22 Paid employee salaries, $1,050.

27 Performed services on account and billed customers for services provided, $900.

29 Received $550 from customers for services to be provided in the future.

30 Paid J. Alou $800 cash for personal use.

Adjustment data consist of the following:

1. Supplies on hand at September 30 cost $1,000.

2. Accrued salaries payable at September 30 total $630.

3. The equipment has an expected useful life of five years.

4. Unearned revenue of $450 is still not earned at September 30.

5. Interest is payable on the first of each month.

Instructions

(a) Prepare T accounts and enter the August 31 balances.

(b) Journalize the September transactions.

(c) Post to T accounts.

(d) Prepare a trial balance at September 30.

(e) Journalize and post adjusting entries.

(f) Prepare an adjusted trial balance at September 30.

(g) Prepare an income statement and a statement of owner's equity, and a classified balance sheet.

(h) Prepare and post closing entries.

(i) Prepare post-closing trial balance at September 30?