Elaine Consulting incorporated on February 1, current year. The company engaged in the following transactions during its first month of operations.

Feb.	1		Issued capital stock in exchange for $800,000 cash.
Feb.	5		Borrowed $100,000 from the bank by issuing a note payable.
Feb.	8		Purchased land, building, and office equipment for $750,000. The value of the land was $150,000, the value of the building was $540,000, and the value of the office equipment was $60,000. The company paid $200,000 cash and issued a note payable for the balance.
Feb.	11		Purchased office supplies for $800 on account. The supplies will last for several months.
Feb.	14		Paid the local newspaper $500 for a full-page advertisement. The ad will appear in print on February 18.
Feb.	20		Several of the inkjet printer cartridges that Elaine purchased on February 11 were defective. The cartridges were returned and the office supply store reduced Elaines outstanding balance by $200.
Feb.	22		Performed consulting services for $14,000 cash.
Feb.	24		Billed clients $16,000.
Feb.	25		Paid salaries of $12,000.
Feb.	28		Paid the entire outstanding balance owed for office supplies purchased on February 11.

A partial list of the account titles used by the company includes the following

Cash	Notes Payable
Accounts Receivable	Accounts Payable
Office Supplies	Capital Stock
Land	Client Service Revenue
Building	Advertising Expense
Office Equipment	Salaries Expense

a. Prepare journal entries for the above transactions.

b. Post each entry to the appropriate ledger accounts.

c. Prepare a trial balance dated February 28, current year. Assume accounts with zero balances are not included in the trial balance.