P29A RiverHawk Expeditions provides guided tours in scenic mountainous areas. After the first 11 months of operations in 2021, RiverHawk has the following account balances. RIVERHAWK EXPEDITIONS Trial Balance November 30, 2021 Accounts Debits Credits Cash $9,200 Accounts Receivable 4,500 Prepaid Insurance 400 Equipment 24,100 Land 170,000 Accounts Payable $3,300 Notes Payable 50,000 Common Stock 120,000 Retained Earnings 14,100 Dividends 5,000 Service Revenue 75,000 Advertising Expense 11,000 Salaries Expense 28,300 Rent Expense 9,900 Totals $262,400 $262,400

December 1 Pay rent for mountain lodges for the month of December, $900.

December 5 Provide guided tour to customers in Grand Teton National Park for cash, $2,800.

December 8 Borrow from a local bank by signing a note payable, $10,000. The note is due in one year with a 6% interest rate.

December 12 Receive cash from customers as payment for a guided tour that occurred on November 28, $3,500.

December 13 Issue additional shares of common stock for cash, $20,000. December 15 Pay employee salaries for the first half of the month, $1,200.

December 17 Purchase advertising on several local radio stations to be aired during the following two weeks, $1,000.

December 22 Provide guided tour to customers in Yellowstone National Park on account, $3,200.

December 23 One of the customers from the December 22 tour claims to have seen the legendary creature Bigfoot.

The company believes this exciting news will create additional revenue of $20,000 next year. December 26 Purchase several pieces of hiking equipment to give customers a more enjoyable adventure, such as night-vision goggles, GPS, long-range binoculars, and video cameras, for cash, $28,500.

December 28 Pay cash on accounts payable, $1,500.

December 31 Pay dividends to stockholders, $2,000. The following transactions occur during December 2021:

Required: 1. Record each transaction.

2. Post each transaction to the appropriate T-account

3. Calculate the balance of each account at December 31, 2021. (Hint: Be sure to include the balance at the beginning of December in each T-account.)

4. Prepare a trial balance as of December 31 2021