P2-3A Jack Shellenkamp owns and manages a computer repair service, which had the following trial balance on December 31, 2007 (the end of its fiscal year). BYTE REPAIR SERVICE, INC. Trial Balance December 31, 2007 Cash $8,000 Accounts Receivable 15,000 Parts Inventory 13,000 Prepaid Rent 3,000 Shop Equipment 21,000 Accounts Payable $19,000 Common Stock 30,000 Retained Earnings 11,000 $60,000 $60,000 Summarized transactions for January 2008 were as follows: Advertising costs, paid in cash, $1,000. Additional repair parts inventory acquired on account $4,000. Miscellaneous expenses, paid in cash, $2,000. Cash collected from customers in payment of accounts receivable $14,000. Cash paid to creditors for accounts payable due $15,000. Repair parts used during January $4,000. (Hint: Debit this to Repair Parts Expense.) Repair services performed during January: for cash $6,000; on account $9,000. Wages for January, paid in cash, $3,000. Dividends paid in January were $3,000. Instructions (a) Prepare journal entries to record each of the January transactions. (For multiple debit/credit entries, list amounts from largest to smallest eg 10, 5, 3, 2.) (b) Open T accounts for each of the accounts listed in the trial balance, and enter the opening balances for 2008. Post the journal entries to the accounts in the ledger. (c) Prepare a trial balance as of January 31, 2008. (If answer is zero, please enter 0. Do not leave any fields blank.)