er to stay in Protected View. Enable Editing Principles of Accounting 1 Chapter 2 Homework Cynthia Jackson, an accountant, organized Jackson and Associates on August 1, 202X. During the month, Jackson and Associates completed the following transactions: a. Issued capital stock to Cynthia Jackson in exchange for $45,000. b. Paid office salaries, $6,000. c. Billed customers for fees earned for providing accounting services, $17,500. d. Purchase office supplies on account, $4,000. e. Paid advertising expenses using cash, $1,800. f. Paid rent expense for the month, $2,500. g. Paid creditors on account, $3,500. h. Received cash from customers on account, $15,900. i. Determined that the cost of supplies on hand was $2,500; therefore, the cost of supplies used was $1,500. j. Paid dividends, $3,000, Instructions 1. Journalize the entries for transactions (a) through (j) 2. Prepare T accounts using all accounts utilized to make the journal entries. Post the journal entries to these T accounts. Determine the account balances, after all posting is complete 3. Prepare an unadjusted trial balance as of August 31, 202X 4. Determine net income and net effect on retained earnings for August