Golden Hurricane Company plans to own and operate a storage rental facility. For the first month of operations, the company has the following transactions.

1. Issue 10,000 shares of common stock in exchange for $39,000 in cash. 2. Purchase land for $22,500. A note payable is signed for the full amount. 3. Purchase storage container equipment for $8,700 cash. 4. Hire three employees for $2,700 per month. 5. Receive cash of $12,700 in rental fees for the current month. 6. Purchase office supplies for $2,700 on account. 7. Pay employees $8,100 for the first month's salaries.

Record each transaction

Post each transaction to T-accounts and calculate the ending balances. For each posting, indicate the corresponding transaction number and the appropriate transaction amount. Since this is the first month of operations, all T-accounts have a beginning balance of zero.

Prepare a trial balance.