Red River Painting Company incurs the following transactions for September. 1. September 3 Paint houses in the current month for $14,500 on account. 2. September 8 Purchase painting equipment for $15,500 cash. 3. September 12 Purchase office supplies on account for $2,400. 4. September 15 Pay employee salaries of $3,100 for the current month. 5. September 19 Purchase advertising to appear in the current month for $1,100 cash. 6. September 22 Pay office rent of $4,300 for the current month. 7. September 26 Receive $9,500 from customers in (1) above. 8. September 30 Receive cash of $4,900 in advance from a customer who plans to have his house painted in the following month. Required: 1. Record each transaction. 2. Post each transaction to T-accounts and calculate the ending balance for each account. At the beginning of September, the company had the following account balances: Cash, $40,600; Accounts Receivable, $1,150; Supplies, $390; Equipment, $6,300; Accounts Payable, $1,050; Common Stock, $19,500; Retained Earnings, $27,890. All other accounts had a beginning balance of zero. 3. Prepare a trial balance. Complete this question by entering your answers in the tabs below. General Journal T Accounts Trial Balance Post each transaction to T-accounts and calculate the ending balance for each account. At the beginning of September, the company had the following account balances: Cash, $40,600; Accounts Receivable, $1,150; Supplies, $390; Equipment, $6,300; Accounts Payable, $1,050; Common Stock, $19,500; Retained Earnings, $27,890. All other accounts had a beginning balance of zero. Cash Accounts Receivable Beginning Balance 40,600 0 Beginning Balance 1,650 0 0 27,890 (2) (1) 19,500 0 (8) 5,900 4,100 (4) 0 14,500 (7) 0 1,200 (5) 0 0 0 5,300 (6) 0 0 (7) 14,500 0 0 0 Ending Balance 34,900 0 Ending Balance 6,650 0 Supplies Equipment Beginning Balance 490 0 Beginning Balance 7,300 0 (3) 3,400 0 (2) 20,500 0 0 0 0 0 Ending Balance 3,890 0 Ending Balance 27,800 0 Accounts Payable Deferred Revenue Beginning Balance 0 1,100 Beginning Balance 0 0 0 3,400 (3) 0 5,900 (8) 0 0 0 0 Ending Balance 4,500 Ending Balance 0 5,900 Common Stock Retained Earnings Beginning Balance 0 24,500 Beginning Balance 0 29,440 0 0 0 0 0 0 0 0 Ending Balance 0 24,500 Ending Balance 0 29,440 Service Revenue Salaries Expense Beginning Balance 0 0 Beginning Balance 0 0 0 19,500 (1) (4) 4,100 0 0 0 0 Ending Balance 0 19,500 Ending Balance 4,100 0 Advertising Expense Rent Expense Beginning Balance (5) 0 0 Beginning Balance 0 0 1,200 0 (6) 5,300 0 0 0 0 0 Ending Balance 1,200 0 Ending Balance 5,300 0