Problem 3-5A Following is the chart of accounts of Sanchez Realty Company: Assets . 111 Cash 113 Accounts Receivable 115 Supplies 117 Prepaid Insurance 124 Office Furniture Liabilities . 221 Accounts Payable Owner's Equity 311 T. Sanchez, Capital 312 T. Sanchez, Drawing Revenue 411 Professional Fees Expenses .511 Salary Expense . 512 Rent Expense .513 Advertising Expense .514 Utilities Expense Sanchez completed the following transactions during April (the first month of business): Apr. 1 Sanchez deposited $20,000 in a bank account in the name of the business. 5 Sold realty services on account to R. Miller, $7,500, Inv. No. 100. 7 Paid a bill for advertising, $250, Ck. No. 1001. 8 Bought supplies on account from Taylor Supply, $420, Inv. No. 2340. 9 Performed realty services for clients for cash, $2,530. 15 Received and paid the bill for utilities, $280, Ck. No. 1002. 17 Bought a desk and chair from Lewis Furniture, $1,800, paying $300 in cash and placing the balance on account, Ck. No. 1003. 20 Bought liability insurance for one year, $1,800, Ck. No. 1004. 21 Paid the rent for the current month, $1,000, Ck. No. 1005. 25 Paid on account to Taylor Supply, $420, for supplies purchased on April 8, Ck. No. 1006. 27 Received $7,500 from R. Miller for services performed on April 5. 28 Received and paid the telephone bill for the month, $150, Ck. No. 1007. 29 Paid the salary of the office assistant, $1,030, Ck. No. 1008. 30 Sanchez withdrew cash for his personal use, $3,000, Ck. No. 1009. Required 2. Journalize the transactions for April in the general journal. 3. Post the entries to the general ledger accounts. (Skip this step if you are using CLGL.) 4. Prepare a trial balance as of April 30, 20--. 5. Prepare an income statement for the month ended April 30, 20--. 6. Prepare a statement of owner's equity for the month ended April 30, 20-- 7. Prepare a balance sheet as of April 30, 20--. Rationale Check Figure Trial balance total, $31,530