• During the first month of operations (March 2013), Jiffy Enterprises completed the following selected transactions:
  • The business received $19,000 in cash and a building valued at $59,000. The corporation issued stock to the contributors of these.
  • Borrowed $16,800 from the bank and signed a note payable to them
  • Paid $19,000 for equipment
  • Purchased supplies on account for $900
  • Paid employees salaries of $9,100
  • Performed services for customer on account, $9,800
  • Paid $150 of the accounts payable in transaction d above
  • Received a $750 bill for advertising expense that will be paid in the near future
  • Received cash on account, $1,600
  • Paid rent of $1,600

Required:

• Prepare the journal entries for the above transactions.
• Prepare the trial balance sheet of Jerry Enterprises as of March 31, 2013.