Part One: Using T-accounts enter the beginning balances to the ledger.

Part two: journalize the transactions

part three: post the journal entries to the ledger

part four: prepare a trial balance on August 31.

Aug. 3 6 On July 31, 2022, the general ledger of Cullumber Legal Services Inc showed the following balances: Cash $4,080, Accounts Receivable $1,530, Supplies $510, Equipment $5,100, Accounts Payable $4.180, Common Stock $3.570, and Retained Earnings $3,470. During August, the following transactions occurred. Collected $1,220 of accounts receivable due from customers. 5 Received $1,330 cash for issuing common stock to new investors. Paid $2,750 cash on accounts payable. 7 Performed legal services of $6,630, of which $3,060 was collected in cash and the remainder was due on account Purchased additional equipment for $1.220.paying $410 in cash and the balance on account. Paid salaries $3,570, rent $920, and advertising expenses $280 for the month of August. Collected the balance for the services performed on August 7. Paid cash dividend of $510 to stockholders. Billed a client $1,020 for legal services performed. Received $2,040 from Laurentian Bank; the money was borrowed on a bank note payable that is due in 6 months. Agreed to perform legal services for a client in September for $4,590. 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 $280; it is not due until September 15. Paid income tax for the month $510. 12 14 18 20 24 26 27 28 31