Problem 2-56A Analyzing Transactions Luis Madero, after working for several years with a large public accounting firm, decided to open his own accounting service. The business is operated as a corporation under the name Madero Accounting Services. The following captions and amounts summarize Madero's balance sheet at July 31, 2019. Liabilities Equity Assets Accounts Receivable 15,900 Cash Accounts Payable 2,500 Common Stock Supplies 4,100 Notes Payable 4,000 Retained Earnings 9.500 8,000 + + 12.000 The following events occurred during August 2019. .. Issued common stock to Ms. Garriz in exchange for $15,000 cash. b. Paid $850 for first month's rent on office space c. Purchased supplies of $2,250 on credit. d. Borrowed $8,000 from the bank. e. Paid $1,080 on account for supplies purchased earlier on credit. 1. Pald secretary's salary for August of $2,150. 9. Performed accounting services for clients who paid cash Upon completion of the service in the total amount of $4,700. h. Used $3,180 of the supplies on hand. 1. Performed accounting services for clients on credit in the total amount of $1,920. J. Purchased $500 in supplies for cash k. Collected $1,290 cash from clients for whom services were performed on credit 1. Pald $1,000 dividend to stockholders. Required: er ULCES UUSUICIONISTISCOVU nang equity UTVUdy Dee If an amount box does not require an entry, leave it blank. Enter decreases in account values as negative numbers. Assets - Liabilities + Equity Common Stock Cash + Acct. Rec. + Acct. Pay. + Notes Pay. + + Ret. Earn. Supplies 4,100 8,000 15,900 2,500 4,000 12,000 9,500 dll b. C. d. e. f. 9. h. 1. 3. billl lll k. TONE 1. + 2. Prepare the trial balance at August 31, 2019. If an amount box does not require an entry, leave it blank. Madero Accounting Services Trial Balance August 31, 2019 Account Debit Credit