Entries into T accounts and Trial Balance Connie Young, an architect, opencd an office on October 1, 20Y4. During the month, she completed the following transactions connected with her professional practice: a. Transferred cash from a personal bank account to an account to be used for the business, $36,000. b. Paid October rent for office and workroom, $2,400. c. Purchased used automobile for $32,800, paying $7,800 cash and giving a note payable for the remainder. d. Purchased office and computer equipment on account, $9,000. Q. Paid cash for supplies, $2,150. 1. Paid cash for annual insurance policies, $4,000. 9. Recelved cash from client for plans delivered, $12,200. h. Paid cash for miscellaneous expenses, $815. 1. Paid cash to creditors on account, $4,500. 1. Paid $5,000 on note payable. K. Recelved involce for blueprint service, due in November, $2,890. 1. Recorded fees earned on plans delivered, payment to be received in November, $18,300. m. Paid salary ol assistants, 46,450 . f. Paid gas, oil, and repairs on automobile for October, $1,020. Required: 1. Pecord the above transactions (in chronological order) directly in the following T accounts without journalizing: Cash; Accounts Receivabie; Supplies; Prepaid Insurance; Automobiles; Equipment; Accounts Payable; Notes Payable; Connie Young, Capital; Professional Fees; Salary Expense; Biueprint Expense: Rent Expense; Automobile Expense; Miscellaneous Expense. To the left of each amount entered in the accounts, select the apgropriate letter to identify the transaction. 2. Determine account balances of the T accounts. Accounts containing a single entry only (such as Prepaid Insurance) do not need a balance. On June 1, 20Y6, Hannah Ellis established an interior decorating business, Whitworth Designs. During the month, Hannah completed the following transactions related to the business: June 1 Hannah transterted cash from a personal bank account to an account to be usod for the business, $26,350. 1. Paid rent for period of June 1 to end of month, $4,000. 6. Purchased oftice equipment on account, $12,700 8 Purchased a van for $32,150 paying $6,900 cash and giving a nole payable for the remainder. 10 Purchased supplies for cash, $1,760. 12 Recelved cash tor job completed, $8,000. 15 Paid annual premiums on property and casualty insurance, $2,300. 23 Reoorded jobs completed on account and strit invoices to customers, $12,000. 24 Recelved an invoice for van expenses, to be paid in July, $1,190. Enter the following transactions on Page 2 of the two-column joumal: June 29 Paid utilities expense, $3,560. 29 Paid miscellanecus expenses, $1,700. 30 Received cash from customers on account, $7,500. 30 Pald wages of employees, $4,750 30. Paid creditor a portion of the amount owed for equipment purchased on June 6,$6,040. 30 Withdrew cash for personal use, $2,000. 1. Journalize each transaction in a two-column joumal beginning on Page 1, relerring to the chart of accounts in selecting the accounts to be debited and credited. (Do not insert the post reference numbers until you have posted the entry to the general ledger in part 2.) CNOW journals do not use lines for joumal explanations. Every line on a joumal page is used for debit or credit entries. CNOW joumals will automatically indent a credit entry when a credit amount is entered. 2. Pest (in chronological order) the joumal to a ledger of four-column accounts, inserting appropriate posting references in both the joumal and the ledger as each item is posted. Extend the balances to the appropriate balance columns after each transaction is postod. Record DATE, ITEM. POST AEF, a debit or credit and a debit or credit under BALAACE on every line. In CNOW, Journal pages do not begin with "J. For example joumal page 10 POST. REF, is simply 10. It the ending batance is \$0, at least one balance amount should be $0. 3. Prepare an unadiusted triel balance for Whitworth Designs as of June 30, 20 6. 4. Determine the excess of covenues over expenses for June. 5. Can you think of any reason why the amount delermined in (4) might not be the net income for dune? Tach Sundort Services The debit and credit totals are not equal as a result of the following errors: a. The cash entered on the trial balance was overstated by $8,000. b. A cash receipt of $4,100 was posted as a debit to Cash of $1,400. c. A debit of $12,350 to Accounts receivable was not posted. d. A return of $235 of defective supplies was erroneously posted as a $325 credit to Supplies. e. An insurance policy acquired at a cost of $3,000 was posted as a credit to Prepaid Insurance. f. The balance of Notes Payable was overstated by $21,000. 9. A credit of $3,450 in Accounts Payable was overlooked when the balance of the account was determined. h. A debit of $6,000 for a withdrawal by the owner was posted as a debit to Thad Engelberg, Capital. 1. The balance of $28,350 in Advertising Expense was entered as $23,850 in the trial balance. 1. Miscellaneous Expenle, with a balance of $4,600, was omitted from the trial balance. Required: 1. Prepare a corrected unadjusted trial balance as of January 31, 20Y8. If an amount box does not require an entry, leave it blank