Problem To be done at home

The trial balance of Reitmier Service center as of March 1, 2007 lists the assets, liabilities and owner's equity as of that date.

Account name debit credit

Cash $ 26.000

Accounts receivable 4.500

Accounts payable $ 2.000

Mike Reitmier's Capital 28.500

Balance $ 30.500 $ 30.500

During March the company was involved in the following transactions:

1. Borrowed $ 45,000 from a bank and signed a draft on behalf of the company

2. Paid $ 40,000 cash to acquire land

3. Providing services to customers and receiving cash of $ 5,000

4. Purchased supplies on account $ 300

5. Provided services to customers and income on credit of $ 2,600

obtain

6. Paid $ 1,200 on debt 7. Paid the following cash expenses: $ 3,000 salary, $ 1,500 rent, and $ 400 interest

8. Received $ 3,100 cash for services rendered last month

9. Received bill for advertising costs of $ 200 to be paid next week

10. Withdraw $ 1,800 for necessities

personal

Requested

1. Open accounts for the above transaction with

using T account

2. Make a trial balance of the Retmeir Service center as of March 31, 2007.