L04, 5, 6 P2.13A. Transaction Analysis and Trial Balance Pam Black owns Artsy Graphics, a firm providing designs for advertisers and market analysts. On July 1, the business's general ledger showed the following normal account balances: Cash... Accounts receivable........ $ 6,800 10,700 Accounts payable... Notes payable... Common stock... Retained earnings .... Total Liabilities and Stockholders' Equity..... $ 2,100 4,200 2,000 9,200 $17,500 Total Assets .......... $17.500 The following transactions occurred during the month of July: 1 Paid July rent, $510. 2 Collected $7.100 on account from customers. 3 Paid $1,800 installment due on the $3.300 noninterest-bearing note payable, 4 Billed customers for design services rendered on account, $18,100. 5 Rendered design services and collected from cash customers, $1.200. 6 Paid $1,400 to creditors on account. 7 Collected $12,750 on account from customers. 8 Paid a delivery service for delivery of graphics to commercial firms, $650. 9 Paid July salaries, $5,300. 10 Received invoice for July advertising expense, to be paid in August, $600, 11 Paid utilities for July, $250. 12 Paid stockholders a dividend of $2,000 cash. 13 Received invoice for supplies used in July, to be paid in August, $2,260. 14 Purchased computer for $7,000 cash to be used in the business starting next month. Required a. Set up accounts for the general ledger accounts with July 1 balances and enter the beginning bal- ances. Also provide the following accounts: Equipment Service Fees Eamed; Rent Expense; Sal aries Expense; Delivery Expense; Advertising Expense; Utilities Expense; Supplies Expense; and Dividends. Prepare joumal entries and record the listed transactions in the appropriate accounts b. Prepare a trial balance as of July 31. Jeee textbook page 1,100 Rent Expense 510 cash puid rent cash 7,100 Accts. Recievable collected on account Notes payable Cash payment on noses pay. I Accts. Recievable 18,100 Desigh fees earned Billed costumers for work L Tipo 120C Dosign fees Earned Did Work Recieved cash continued Journal Date Accounts and explanations 510 po. Problem 2-13A (continued) + Cash - 8 6.800 Accounts Receivable - 10.700 8 Design Fees Earned Computers Advertising Expense Dividends Rent Expenso Notes Payable 4200 Retained Earnings 19,200 Delivery Expense - Accounts Payable 2,100 Supplies Expense Salaries Expense Utilities Expense Common Stock 2,000 59 P 2 -134 (continued) Artsy Graphics Trial Balance July 31, 2019 Debit Account Credit Totals (need to be equal) 36.460 1361460