PR 2-2A Journal Entries and Trial Balance Obj. 1, 2, 3, 1 on October 1, 2016, Jay Crowley established Affordable Realty which completed the following transactions during the month: a. Jay Crowley transferred cash from a personal bank account to an account to be used for the business in exchange for common stock, $10,000 b. Paid rent on office and equipment for the month, 54,800. c. Purchased supplies on account, $2,150. d. Pald creditor on account, $1,100. e. Earned sales commissions, receiving cash, $18,750 f. Pald automobile expenses (including rental charge) for month, $1,580, and miscellaneous expenses, $800, & Paid office salaries, $3,500 h. Determined that the cost of supplies used was 51,300 L. Pald dividends, $1,500 Instructions 1. Joumalize entries for transactions (a) through (1), using the following account titles: Cash, Supplies, Accounts Payable, Common Stock Dividends, Sales Commissions, Rent Expense, office Salaries Expense, Automobile Expense, Supplies Expense. Miscellaneous Expense. Explanations may be titted 2. Prepare T accounts, using the account titles in (). Post the journal entries to these accounts, placing the appropriate letter to the left of each amount to Identify the transactions. Determine the account balances after all posting is complete. Accounts containing only a single entry do not need a balance. 2. Prepare an unadjusted mal balance as of October 31, 2016, 1. Determine the following: Amount of total revenue recorded in the ledger b. Amount of total expenses recorded in the ledger c. Amount of net income for October At Check Figures $6,770 5. Determine the increase or decrease in retained earnings for October