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 the T accounts, but there seem to be some errors. T accounts Cash Bal. 3/25 8,000 3/3 2,300 7,725 3/27 1,250 3/28 6,500 3/29 3,375 3/30 7,900 3/31 1,900 Accounts Receivable Bal. 3/18 1,950 9,725 3/30 7,900 Supplies Bal. 3/7 225 1,450 3/2 Office Equipment 17,500 Accounts Payable 3/27 1,250 Bal. 1,250 3/7 1,450 Notes Payable 3/2 17,500 Common Stock Bal. 7,500 3/28 6,500 Retained Earnings Bal. Dividends 3/31 1,900 1,425 Fees Earned 3/18 9,725 3/25 7,725 Rent Expense 3/3 2,300 Wages Expense 3/29 3,375