Recording Business Transactions 101 Journalizing transactions, posting journal entries to four-column accounts, and preparing a trial balance P2-32A Learning Objectives 3, 4 rial balance of Shawn Merry, CPA, is dated March 31, 2018 3. Cash Balance $12,500 The SHAWN MERRY, CPA Trial Balance March 31, 2018 Account Title Debit 5 11,000 16,500 Credit Accounts Receivable Office Supplies Land Furniture 400 30,000 Accounts Payable Unearned Revenue Merry, Capital Merry. Withdrawals Service Revenue Salaries Expense Rent Expense Total $ 3,800 52,300 8,200 5,600 800 64,300 64,300 During April, the business completed the following transactions: Apr. 4 Collected $2,500 cash from a client on account 8 13 14 15 Performed tax services for a client on account, $5,400 Paid $3,000 on account. Purchased furniture on account, $3,600 Merry contributed his personal automobile to the business in exchange 18 19 20 21 24 for capital. The automobile had a market value of $9,500. Purchased office supplies on account, $900 Received $2,700 for tax services performed on April 8 Merry withdrew cash of $6,500. Received $5,700 cash for consulting work completed. Received $2.400 cash for accounting services to be completed next month. Paid office rent, $600. Paid employee salary, $1,700. 27 28