Mulberry Services sells electronic data processing services to firms too small to own their own computing equipment. Mulberry had the following accounts and account balances as of January 1, 2022: Accounts Payable Accounts Receivable Cash Common Shares Interest Payable Notes Payable (Long Term) Prepaid Rent (Short Term) Retained Earnings, 12/31/2021 < $ 14,000 130,000 6,000 114,000 8,000 80,000 96,000 16,000 During 2022, the following transactions occurred (the events described below are aggregations of many individual events): a. During 2022, Mulberry sold $690,000 of computing services, all on credit. b. Mulberry collected $570,000 from the credit sales in transaction a and an additional $129,000 from the accounts receivable outstanding at the beginning of the year. c. Mulberry paid the interest payable of $8,000. d. Wages of $379,000 were paid in cash. e. Repairs and maintenance of $9,000 were incurred and paid. f. The prepaid rent at the beginning of the year was used in 2022. In addition, $28,000 of computer rental costs were incurred and paid. There is no prepaid rent or ren payable at year-end. g. Mulberry purchased computer paper for $13,000 cash in late December. None of the paper was used by year-end. h. Advertising expense of $26,000 was incurred and paid. i. Income tax of $10,300 was incurred and paid in 2022. j. Interest of $5,000 was paid on the long-term loan. 1. Establish T-accounts for the accounts listed above and enter the beginning balances. Use a chart of accounts to order the T-accounts. 3. Post your journal entries to the T-accounts. If a balance is zero, enter zero ("0"). Beg. Bal. End. Bal. Beg. Bal. End. Bal. Cash Accounts Receivable Beg. Bal. Prepaid Rent End. Bal. End. Bal. Supplies Accounts Payable Beg. Bal. End. Bal. Interest Payable Beg. Bal. End. Bal. Notes Payable Beg. Bal. End. Bal. Common Shares Beg. Bal. End. Bal. End. Bal. End. Bal. End. Bal. Retained Earnings Beg. Bal. End. Bal. Service Revenue End. Bal. Rent Expense Advertising Expense Wages Expense End. Bal. End. Bal. End. Bal. Repairs & Maintenance Expense Interest Expense Income Tax Expense 2. Analyze each transaction. Journalize as appropriate. (Note: Ignore the date because these events are aggregations of individual events.) For a compound transaction, for those boxes in which no entry is required, leave the box blank. a. b. (Performed services on account) (Collected cash from customers) C. d. (Paid interest owing) e. g. h. (Paid wages) (Paid for repairs and maintenance) (Incurred and paid rent expense) (Purchased supplies) (Paid for advertising) i. j. (Paid income taxes) (Paid interest) 4. Use the ending balances in the T-accounts to prepare a trial balance. For those boxes in which no entry is required, leave the box blank. Mulberry Services Trial Balance December 31, 2022 Account Debit Credit