On July 31, 2017, the general ledger of Teal Mountain Inc. showed the following balances: Cash $3,680, Accounts Receivable $1,380, Supplies $460, Equipment $4,600, Accounts Payable $3,770, Common Stock $3,220, and Retained Earnings $3,130. During August, the following transactions occurred.

Aug. 3Collected $1,100 of accounts receivable due from customers.5Received $1,200 cash for issuing common stock to new investors.6Paid $2,480 cash on accounts payable.7Performed legal services of $5,980, of which $2,760 was collected in cash and the remainder was due on account.12Purchased additional equipment for $1,100, paying $370 in cash and the balance on account.14Paid salaries $3,220, rent $830, and advertising expenses $255 for the month of August.18Collected the balance for the services performed on August 7.20Paid dividends of $460 to stockholders.24Billed a client $920 for legal services performed.26Received $1,840 from Laurentian Bank; the money was borrowed on a bank note payable that is due in 6 months.27Agreed to perform legal services for a client in September for $4,140. The client will pay the amount owing after the services have been performed.28Received the utility bill for the month of August in the amount of $255; it is not due until September 15.31Paid income tax for the month $460.

A.Using T-accounts, enter the beginning balances to the ledger.

B.Journalize the August transactions.(If no entry is required, select "No entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.)

C. Post the August journal entries to the ledger.(Post entries in the order of information presented in the question.)

D. Prepare a trial balance on August 31, 2017. How to determine if it credit or debit