Mastery Problem: Analyzing Transactions KL Company Inc. In February, Katie Long formed KL Company Inc. Transactions for the month of March have been posted to the T accounts. An intern has prepared a trial balance from th T accounts, but there seem to be some errors. T accounts Bal. 3/25 3/28 3/30 Cash 8,000 3/3 7,425 3/27 4,500 3/29 7,825 3/31 2,300 1,275 3,625 1,875 Bal. Accounts Receivable 1,950 9,875 3/30 7,825 3/18 Bal 3/7 Supplies 225 1,450 Office Equipment 19,000 3/2 Dewable 13/2 office Equipment 19,000 3/27 Accounts Payable 1,275 Bal. 3/7 1,250 1,450 Notes Payable 3/2 19,000 Common Stock Bal. 3/28 7,500 4,500 Retained Earnings Bal. 1,425 Dividends 1,875 3/31 Fees Earned 3/10 3/25 9,875 7.425 Fees Earned 3/18 3/25 9,875 7,425 3/3 Rent Expense 2,300 Wages Expense 3,625 3/29 Required: Transactions Transaction Date Amount Debit Credi Purchased equipment, giving a note payable for the purchase price Paid rent for April Purchased supplies on account. Recorded fees earned on account. Received cash for fees earned. Pald creditors on account. KL. Company Inc. issued additional shares of common stock in exchange for cash. Paid wages. Received cash from customers on account. KL Company Inc. paid dividends to its stockholders. Trial Balance: Unequal Totals The intern has prepared the following trial balance for the month of March. KL Company Inc. Unadjusted Trial Balance March 31, 2013 Account Title Debit Balances Credit Balances Cash 23,275 Accounts Receivable 4,000 Supplies Office Equipment 19,000 Accounts Pavable 1.425 1,675