Record each transaction directly in the T-accounts without using a journal. Use the letters to identify the transactions.

Enter each transaction. Then calculate the ending balance for each account by selecting "Bal" on the appropriate side of the account and entering the account balance. (For transaction (k), enter the credit as oneposting.)

Cash

Common Stock

Accounts Receivable

Service Revenue

Supplies

Salary Expense

Music Equipment

Rent Expense

Building

Advertising Expense

Accounts Payable

Utilities Expense

Note Payable

Requirement 2.Prepare the trial balance of

Smolt Music ServicesSmolt Music Services

Corporation, at

AugustAugust

3131,

20162016.

Review the ending balances of the T-accounts prepared in the previous step.

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	Smolt Music Services Corporation
	Trial Balance
	August 31, 2016

	Account	Debit	Credit
	Total

a. The business received cash of $47,000 and a building with a fair value of $107,000. The corporation issued common stock to the stockholders.

b. Borrowed $58,000 from the bank; signed a note payable.

c. Paid $46,000 for music equipment.

d. Purchased supplies on account, $440.

e. Paid employees' salaries, $6,200.

f. Received $3,740 for music services performed for customers.

g. Performed services for customers on account, $12,900.

h. Paid $150 of the account payable created in transaction d.

i. Received a(n) $700 bill for utility expense that will be paid in the near future.

j. Received cash on account, $1,600.

k. Paid the following cash expenses: (1) rent, $1,400; (2) advertising, .