On January $1,20$Y$5,$ Fahad Ali established Mountain Top Realty, which completed the following transactions during the month:

Jan. $1$ Fahad Ali transferred cash from a personal bank account to an account to be used for the business, $$31,000.$

$2$ Paid rent on office and equipment for the month, $$2,850.$

$3$ Purchased supplies on account, $$2,350.$

$4$ Paid creditor on account, $$850.$

$5$ Earned fees, receiving cash, $$14,920.$

$6$ Paid automobile expenses $($including rental charge$)$ for month, $$1,640,$ and miscellaneous expenses, $$770.$

$7$ Paid office salaries, $$3,200.$

$8$ Determined that the cost of supplies used was $$1,500.$

$9$ Withdrew cash for personal use, $$2,800.$

Required:

$1.$ Journalize entries for transactions Jan. $1$ through $9.$ Refer to the chart of accounts for the exact wording of the account titles. CNOW journals do not use lines for journal explanations. Every line on a journal page is used for debit or credit entries. CNOW journals will automatically indent a credit entry when a credit amount is entered.

$2.$ Post the journal entries to the T accounts, selecting the appropriate date to the left of each amount to identify the transactions. Determine the account balances after all posting is complete. Accounts containing only a single entry do not need a balance. Determine the correct ending balance. The ending balance label is provided on the left side of the T account even when the ending balance is a credit. The unused cell on the balance line should be left blank.

$3.$ Prepare an unadjusted trial balance as of January $31,20$Y$5.$

$4.$ Determine the following:

a$.$ Amount of total revenue recorded in the ledger.

b$.$ Amount of total expenses recorded in the ledger.

c$.$ Amount of net income for January.

$5.$ Determine the increase or decrease in owner$$s equity for January.