P2-38B Journalizing transactions, posting journal entries to four-column accounts, and preparing a trial balance The trial balance of John Menning, CPA, is dated March 31, 2018: U JOHN MENNING, CPA Trial Balance March 31, 2018 Balance Debit Credit $ 17,000 10,500 1,200 29,000 Account Title Cash Accounts Receivable Office Supplies Land Furniture Automobile Accounts Payable Unearned Revenue Common Stock Dividends Service Revenue Salaries Expense Rent Expense Total $ 3,800 46,200 11,200 2,500 1,000 $ 61,200 $ 61,200 During April, the business completed the following transactions: Salaries Expense Rent Expense Total 2,500 1,000 $ 61,200 $ 61,200 During April, the business completed the following transactions: Apr. 4 Collected $6,000 cash from a client on account. 8 Performed tax services for a client on account, $5,500. 13 Paid $3,300 on account. 14 Purchased furniture on account, $4,000. 15 Menning contributed his personal automobile to the business in exchange for common stock. The automobile had a market value of $11,500. 18 Purchased office supplies on account, $1,600. 19 Received $2,750 for tax services performed on April 8. 20 Paid cash dividends of $7,500. 21 Received $4,900 cash for consulting work completed. ,24 Received $2,500 cash for accounting services to be completed next month. 27 Paid office rent, $900. 28 Paid employee salary, $1,200. Rec Requirements 1. Record the April transactions in the journal using the following accounts: Cash; Accounts Receivable; Office Supplies; Land; Furniture; Automobile; Accounts Payable; Unearned Revenue; Common Stock; Dividends; Service Revenue; Salaries Expense; and Rent Expense. Include an explanation for each entry. 2. Open the four-column ledger accounts listed in the trial balance, together with their balances as of March 31. Use the following account numbers: Cash, 11; Accounts Receivable, 12, Office Supplies, 13; Land, 14; Furniture, 15; Automobile, 16; Accounts Payable, 21; Unearned Revenue, 22; Common Stock, 31; Dividends, 33; Service Revenue, 41; Salaries Expense, 51; and Rent Expense, 52. 3. Post the journal entries to four-column accounts in the ledger, using dates, account numbers, journal references, and posting references. Assume the journal entries were recorded on page 5 of the journal. 4. Prepare the trial balance of John Menning, CPA, at April 30, 2018