Learning Objective 6: Construct and use a trial balance) The trial balance of Doyle, Inc., at September 30, 2012, does not balance. Cash $4,600 Accounts receivable 13,200 Inventory 17,100 Supplies 800 Land 58,000 Accounts payable $12,400 Common stock 47,400 Service revenue 38,500 Salary expense 1,900 Rent expense 1,100 Utilities expense 1,100 Total $97,800 $98,300 The accounting records hold the following errors: a. Recorded a $600 cash revenue transaction by debiting Accounts Receivable. The credit entry was correct. b. Posted a $3,000 credit to Accounts Payable as $300. c. Did not record utilities expense or the related account payable in the amount of $400. d. Understated Common Stock by $200. e. Omitted Insurance Expense of $3,400 from the trial balance. Requirements 1. Prepare the correct trial balance at September 30, 2012, complete with a heading. Journal entries are not required. E2-34B (Learning Objective 4: Analyze the impact of business transactions on accounts) Set up the following T-accounts: Cash, Accounts Receivable, Office Supplies, Office Furniture, Accounts Payable, Common Stock, Dividends, Service Revenue, Salary Expense, and Rent Expense. Record the following transactions directly in the T-accounts without using a journal. Use the letters to identify the transactions. a. Lisa Oxford opened a law firm by investing $13,000 cash and office furniture valued at $8,900. Organized as a professional corporation, the business issued common stock to Oxford. b. Paid monthly rent of $1,800. c. Purchased office supplies on account, $1,300. d. Paid employee salaries of $1,800. e. Paid $900 of the accounts payable created in Transaction c. f. Performed legal service on account, $8,700. g. Declared and paid dividends of $2,500.