(practice question)

The general ledger of Pipers Plumbing at January 1, 2018, includes the following account balances:

Accounts Debits CreditsCash $3,900Accounts Receivable8,900Supplies2,900Equipment24,000Accumulated Depreciation$5,600Accounts Payable3,600Utilities Payable4,600Deferred Revenue0Common Stock17,000Retained Earnings8,900

Totals $39,700$39,700

The following is a summary of the transactions for the year:

1. January 24 Provide plumbing services for cash, $14,000, and on account, $59,000.
2. March 13 Collect on accounts receivable, $47,000.
3. May 6Issue shares of common stock in exchange for $10,000 cash.
4. June 30Pay salaries for the current year, $31,800.
5. September 15 Pay for utilities expenses, $11,800, of which $4,600 represents costs for 2017.
6. November 24 Receive cash in advance from customers, $7,600.
7. December 30 Pay $1,800 cash dividends to stockholders.
8. Depreciation for the year on the machinery is $5,600. Plumbing supplies remaining on hand at the end of the year equal $1,000. Of the $7,600 paid in advance by customers, $5,800 of the work has been completed by the end of the year.

How do I enter the beginning balances from the trial balance and post the adjusting entries and the closing entries to the T-accounts