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Maria Sanchez began business as Sanchez Law Firm on November 1. Record the following November transactions by making entries directly to the T-accounts provided (1

Maria Sanchez began business as Sanchez Law Firm on November 1. Record the following November transactions by making entries directly to the T-accounts provided (1 point each = 8 points total). Then, prepare a trial balance, as of November 30 (10 points). a) Sanchez invested $15,000 cash and a law library valued at $6,000. b) Purchased $7,500 of office equipment from Johnson Bros. on credit. c) Completed legal work for a client and received $1,500 cash in full payment. d) Paid Johnson Bros. $3,500 cash in partial settlement of the amount owed. e) Completed $4,000 of legal work for a client on credit. f) Sanchez withdrew $2,000 cash for personal use. g) Received $2,500 cash as partial payment for the legal work completed for the client in (e). h) Paid $2,500 cash for the legal secretary's salary.

Cash

Office Equipment

M. Sanchez, Withdrawals

Accounts Receivable

Accounts Payable

Legal Fees Earned

Law Library

M. Sanchez, Capital

Salaries Expense

Sanchez Law Firm

Trial Balance

November 30

Account Debit Credit

Cash

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