Journalizing, Posting, and Preparing a Trial Balance

Janet Enterprises incorporated on May 3, 2015. The company engaged in the following transactions during its first month of operations:

May 3	Issued capital stock in exchange for $950,000 cash.
May 4	Paid May office rent expense of $1,800.
May 5	Purchased office supplies for $600 cash. The supplies will last for several months.
May 15	Purchased office equipment for $12,400 on account. The entire amount is due June 15.
May 18	Purchased a company car for $45,000. Paid $15,000 cash and issued a note payable for the remaining amount owed.
May 20	Billed clients $120,000 on account.
May 26	Declared a $8,000 dividend. The entire amount will be distributed to shareholders on June 26.
May 29	Paid May utilities of $500.
May 30	Received $90,000 from clients billed on May 20.
May 31	Recorded and paid salary expense of $32,000.

A partial list of the account titles used by the company includes:

Cash	Dividends Payable
Accounts Receivable	Dividends
Office Supplies	Capital Stock
Office Equipment	Client Revenue
Vehicles	Office Rent Expense
Notes Payable	Salary Expense
Accounts Payable	Utilities Expense PLEASE NO PICTURES. PLEASE POST IN TEXT FORM. THANK YOU