Pat O'Dell opened a law office on January 2 of the current year. During the first month of operations, the business completed the following transactions: Jan. 2 O'Dell deposited $33,000 cash in the business bank account Pat O'Dell, Attorney, Professional Corporation (PC.). The corporation issued common stock to O'Dell. 3 Purchased supplies, $500, and furniture, $2, 600, on account. 4 Performed legal service for a client and received cash, $ 1.500. 7 Paid cash to acquire land for an office site, $22,000. 11 Defended a client in court and billed the client $800. 16 Paid for the furniture purchased January 3 on account. 17 Paid the telephone bill, $ 110. 18 Received partial payment from client on account, $400. 22 Paid the water and electricity bills, $ 130. 29 Received $1, 800 cash for helping a client sell real estate. 31 Paid secretary's salary, $1, 300. 31 Declared and paid dividends of $2, 200. Set up the following T-accounts: Cash, Accounts Receivable, Supplies, Furniture, Land. Accounts Payable. Common Stock, Dividends. Service Revenue. Salary Expense, and Utilities Expense. .Record each transaction in the journal, using the account tides given. Key each transaction by date. Explanations are not required. Post the transactions to the T-accounts, using transaction dates as posting references. Label the ending balance of each account Bal. as shown in the chapter. Prepare the trial balance of Pat O'Dell, Attorney. PC., at January 31 of the current year. O'Dell asks you how much in total resources the business has to work with, how much it owes, and whether January was profitable (and by how much)