Given:

Solve:

Date Account Titles and Explanation Debit Credit Jan 2 Cash 66000 Common Shares 66000 Jan 4 Rent Expense 2900 Cash 2900 Van 5 Equipment 40000 Cash 11000 Bank Loan Payable 29000 Jan 8 Advertising Expense 520 Cashi 520 Jan 10 Supplies 1100 Accounts Payable 1100 Jan 11 Advertising Expense 2700 Cash 2700 Jan 12 Salaries Expense 8100 Cash 8100 Jan 15 Accounts Receivable 14500 Service Revenue 14500 Jan 17 Office Expense 1100 Cash 1100 Jan 19 Prepaid Insurance 6000 Cash 8000 Jan 24 Cash 9900 Accounts Receivable 9900 Jan 25 Dividends Declared 450 Cash Jan 26 Salaries Expense 100 Cash 3100 Jan 26 Salaries Expense 8100 Cash 8100 Jan 29 Accounts Receivable 16400 Service Revenue 16400 30 Interest Expense 200 Bank Loan Payable 670 Cash 870 Jan 31 Income Tax Expense 1500 Cash 1500 Set up Taccounts and post the journal entries prepared in (a). (Post entries in the order of journal entries presented in the previous part) Cash > > > del Supplies Prepaid Insurance Equipment Accounts Payable Bank loan Payable Common Shares Dividends Declared Service Revenue V > Advertising Expense V Salaries Expense Interest Expense Office Expense Rent Expense Income Tax Expense