P2-73B

During the first month of operations (March 20x6), Silver Entertainment Corporation completed the following transaction;

1- The business received cash 35,000 and a building valued at 55,000. The corporation issued ordinary shares to the shareholders.

2- Borrowed 32,300 from the bank; signed a note payable.

3- Paid 31,000 for music equipment.

4- Purchased supplies on account, 300.

5- Paid employees salaries, 2,100.

6- Received 1,800 for music service performed for customers.

7- Performed service for customers on account, 2,700.

8- Paid 200 of the account payable created in transaction d.

9- Received 700 bill for advertising expense that will be paid in the near future.

10- Received cash on account, 1,500.

11- Paid the following cash expenses: (1) rent, 1,000; (2) advertising, 700.

Required:

Record each transaction directly to the t-account without using a journal. Use the letters to identify the transactions.

Prepare the companys trial balance as of March 31st, 20x6.