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On July 31, 2022, the general ledger of Blossom Legal Services Inc. showed the following balances: Cash $ 2,960, Accounts Receivable $1.110, Supplies $370, Equipment
On July 31, 2022, the general ledger of Blossom Legal Services Inc. showed the following balances: Cash $ 2,960, Accounts Receivable $1.110, Supplies $370, Equipment $3,700, Accounts Payable $ 3,030. Common Stock $ 2,590, and Retained Earnings $ 2,520. During August, the following transactions occurred. 6 12 14 18 Aug 3 Collected $ 890 of accounts receivable due from customers. 5 Received $ 960 cash for issuing common stock to new investors. Paid $ 2,000 cash on accounts payable. 7 Performed legal services of $ 4.810, of which $ 2.220 was collected in cash and the remainder was due on account. Purchased additional equipment for $890, paying $ 300 in cash and the balance on account Paid salaries $2,590, rent $ 670, and advertising expenses $ 205 for the month of August Collected the balance for the services performed on August 7 20 Pald cash dividend of $ 370 to stockholders. 24 Billed a client $ 740 for legal services performed Received $1.480 from Laurentian Bank the money was borrowed on a bank note payable that is due in 6 months 27 Agreed to perform legal services for a client in September for $3,330. The client will pay the amount owing after the services have been performed. Received the utility bill for the month of August in the amount of $ 205; it is not due until September 15. 31 Paid income tax for the month $ 370. 26 28 Using T-accounts, enter the beginning balances to the ledger Cash Accounts Receivable Supplies Equipment Accounts Payable Common Stock Equipment Accounts Payable Common Stock Retained Earnings -/15 Question 5 of 5 Debit Credit Date Account Titles and Explanation > -/15 Question 5 of 5 Question 5 of 5 Post the August journal entries to the ledger. (Post entries in the order of information presented in the question.) Cash July 31 2,960 > >> Common Stock July 31 2.590 Salaries and Wages Expense
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