Maury Wills started an environmental consulting business & during the first month of operations (June 2008) completed the following transactions:

a) Wills began the business with an investment of $25,000 cash and a building valued at $30,000. The business gave Wills the owners equity in the firm.

b) Purchased office supplies on account, $2,100

c) Paid $18,000 for office furniture

d) Paid employees salary, $2,200

e) Performed consulting service on account, $5,100

f) Paid $800 on the account payable created in transaction (b)

g) Received a $600 bill for advertising expense that will be paid in the near future

h) Performed consulting service for customers and received cash, $1,600

i) Received cash on account, $1,200

j) Paid the following cash expenses and made a single compound entry:

i) Rent on equipment, $700

ii) Utilities, $400

k) Withdrew $3,000 for personal use

Required:

1. Record each transaction in the journal. Use the letters to identify the transactions.

2. Post the entries to the ledger accounts.

3. Prepare the trial balance of Wills Environmental Consulting at June 30, 2008