Problem 3-30 Recording Transactions

Thetrial balancefor ShirtCraft, Inc., at January 31 is shown as follows:

** Information for this problem is included in the attached Word document.

Required: a. and c. Prepare opening T-accounts for the month of February and post journal entries to appropriate T-accounts. If an amount box does not require an entry, leave it blank. Cash Accounts Receivable Supplies 5600 150 12890 4500 1895 4500 1000 2875 2500 9235 560 10100 5920 17390 Prepaid Rent 2500 Equipment 1500 9795 Accounts Payable 30500 1895 7625 1500 30500 Unearned Revenue 9520 Notes Payable Common Stock 3500 6400 15000 25000 3500 6400 15000 25000 Service Revenue Salaries Expense Utilities Expense 9650 2300 650 2500 2100 775 12150 4400 1425 Dividends Interest Expense 1000 1000 150 2000 150 Hide b. Prepare journal entries for transactions in the month of February. If an amount box does not require an entry, leave it blank. Fe bru ary 1 Accounts Receivable 2500 Service Revenue Fe bru ary 1 Interest Expense 2500 150 Cash Fe bru ary 4 Cash 150 4500 Accounts Receivable Fe bru ary 8 Supplies 4500 560 Supplies Fe bru ary 12 Unearned Revenue 560 3500 Service Revenue Fe bru ary 18 Accounts Payable 3500 1895 Cash Fe bru ary 26 Dividends 1895 1000 Cash Fe bru ary 27 C 1000 Salaries Expense 2100 Utlities Expense 775 Cash 2875 Hide d. Prepare a trial balance at February 28. List the accounts in chart of accounts order. Enter all amounts as positive numbers. Shirtcraft, Inc. Trial Balance February 28 Debit Cash $ Credit 10350 Accounts Receiv 2500 Supplies 560 Prepaid Rent 1500 Equipmrent 30500 Accounts Payable $ 1895 Unearned Revenue 3500 Notes Payable 15000 Common Stock 25000 Service Revenue 2500 Interest Expense 150 Salaries Expense 560 Utilities Expense 775 Dividends 1000 Totals $ 47895 $ 47895