S3-7 Analyzing Transactions and Preparing an Unadjusted Trial Balance Assume you recently started up a new company that rents machines for making frozen drinks like smoothies, frozen juices, tea slush, and iced cappuccinos. For $100, your business will deliver a machine, provide supplies (straws, paper cups), set up the machine, and pick up the machine the next morning. Drink mix and other supplies are sold by other businesses in your city. Being a one-person operation, you are responsible for everything from purchasing to marketing to operations to accounting. You've decided that you'll just write notes about what happens during the month and then do the accounting at the end of the month. You figure this will be more efficient. Plus, by waiting until the end of the month to do the accounting, you'll be less likely to make a mistake because by that time you'll better understand the accounting cycle. Your notes said the following about your first month of operations: Oct. 2 Oct. 12 Oct. 13 Oct. 16 Oct. 17 Incorporated Slusher Gusher Inc. and contributed $10,000 for stock in the company. Paid cash to buy three frozen drink machines on eBay at a total cost of $1,500. What a deal! Paid cash to buy $70 of supplies. Wal-Mart was packed. Received $500 cash for this past week's rentals. I'm rich! Determined that $45 of supplies had been used up. Hmm, looks like I'll need some more.