Jay Cutler owns and manages a computer repair service, which had the following trial balance on December 31, 2011 (the end of its fiscal year). MEGA REPAIR SERVICE Trial Balance December 31, 2011 Debit Credit Cash $ 8,892 Accounts Receivable 15,458 Supplies 13,632 Prepaid Rent 1,843 Equipment 20,582 Accounts Payable $18,834 Owner's Capital 41,573 $60,407 $60,407 Summarized transactions for January 2012 were as follows. 1. Advertising costs, paid in cash, $1,175. 2. Additional supplies acquired on account $4,456. 3. Miscellaneous expenses, paid in cash, $2,044. 4. Cash collected from customers in payment of accounts receivable $12,754. 5. Cash paid to creditors for accounts payable due $12,989. 6. Supplies used during January $3,836. 7. Repair services performed during January: for cash $6,845; on account $9,816. 8. Wages for January, paid in cash, $2,028. 9. Jays drawings during January were $2,537. (a) Your answer is partially correct. Try again. Open T accounts for each of the accounts listed in the trial balance, and enter the opening balances for 2012. Cash Accounts Receivable Supplies Prepaid Rent Equipment Accounts Payable Owners Capital