! Required information Problem 2-8A Complete the steps in the measurement of external transactions (LO2-4, 2-5, 2-6) (The following information applies to the questions displayed below.) Pirates Incorporated had the following balances at the beginning of September. PIRATES INCORPORATED Trial Balance September 1 Accounts Debits Credits Cash $ 5,700 Accounts Receivable 1,700 Supplies 6,800 Land 10,400 Accounts Payable $ 6,700 Notes Payable 2,200 Common Stock 8, 200 Retained Earnings 7,500 Totals $24,600 $24,600 The following transactions occur in September. September 1 Provide services to customers for cash, $3,900. September 2 Purchase land with a long-term note for $5,600 from Crimson Company. September 4 Receive an invoice for $420 from the local newspaper for an advertisement that appeared on September 2. September 8 Provide services to customers on account for $5,200. September 10 Purchase supplies on account for $1,200. September 13 Pay $3,200 to Crimson Company for a long-term note. September 18 Receive $4,200 from customers on account. September 20 Pay $820 for September's rent. September 30 Pay September's utility bill of $1,600. September 30 Pay employees $3,200 for salaries for the month of September. September 30 Pay a cash dividend of $1,200 to shareholders. Problem 2-8A Part 2 and 3 2. & 3. Post each transaction to the appropriate T-accounts and calculate the balance of each account at September 30. (Hint Be sure to include the balance at the beginning of September in each T-account.) Cash Accounts Receivable Beg. Bal. Beg. Bal. September 1 September 1 September 13 September 18 End. Bal. End. Bal. Supplies Land Beg. Bal. Beg. Bal. September 1 September 10 End. Bal. End. Bal. Accounts Payable Notes Payable Beg. Bal. Beg. Bal. End. Bal. End. Bal Common Stock Retained Earnings Beg. Bal. Beg. Bal. End. Bal. End. Bal. Dividends Service Revenue Beg. Bal. Beg. Bal. End. Bal. End. Bal. Salaries Expense Rent Expense Beg. Bal. Beg. Bal. End. Bal. End. Bal. Advertising Expense Utilities Expense Beg. Bal. Beg. Bal. End. Bal. End. Bal