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EBOOK Show Me How Calculator Instructions Mulberry Services sells electronic data processing services to firms too smalto own their own computing equipment. Mulberry had the following accounts and account balances as of January 1, 2019: Accounts Payable Accounts Receivable $ 14,000 130,000 Cash 6,000 Common Stock 114,000 8,000 80,000 Interest Payable Notes Payable (Long-term) Prepaid Rent (Short-term) Retained Earnings, 12/31/2018 96,000 16,000 During 2019, the following transactions occurred: a. During 2019, Mulberry sold $890,000 of computing services, all on credit. b. Mulberry collected $570,000 from the credit sales in Transaction a and an additional s129,000 from the accounts receivable outstanding at the beginning of the year c. Mulberry paid the interest payable of $8,000. d. Wages of $379,000 were paid in cash. e. Repairs and maintenance of $9,000 were incurred and paid. 1. The prepaid rent at the beginning of the year was used in 2019. In addition, $28,000 of computer rental costs were incurred and paid. There is no prepaid rent or rent payable at year-end, g. Mulberry purchased computer paper for $13,000 cash in late December. None of the paper was used by year-end. h. Advertising expense of $26,000 was incurred and paid. 1. Income tax of $10,300 was incurred and paid in 2019. 1. Interest of $5,000 was paid on the long-term loan. Required: 1. The account title for each T-account has been provided. Based on the data provided, enter the applicable beginning balances. 2. Analyze each transaction. Journalize as appropriate. 3. Post your journal entries to T-accounts. Add additional T-accounts when needed. 4. Use the ending balances in the T-accounts to prepare a trial balance. tions hart Of Accounts CHART OF ACCOUNTS Mulberry Services General Ledger ASSETS REVENUE 111 Cash 411 Sales Revenue 121 Accounts Receivable 412 Service Revenue 122 Notes Receivable 413 Interest Income 123 Supplies EXPENSES 124 Prepaid Insurance 125 Prepaid Rent 511 Cost of Goods Sold 126 Inventory 131 Land 132 Buildings 133 Equipment 134 Furniture 512 Advertising Expense 513 Supplies Expense 514 Utilities Expense 515 Rent Expense 516 Insurance Expense 517 Repairs and Maintenance Expense 521 Wages Expense 531 Interest Expense 532 Depreciation Expense 135 Trucks 139 Accumulated Depreciation LIABILITIES Ty work 5 more Check My Work uses remaining All work saved structions Chart Of Accounts 139 Accumulated Depreciation 521 Wages Expense 531 Interest Expense 532 Depreciation Expense 533 Income Taxes Expense LIABILITIES 211 Accounts Payable 212 Notes Payable 213 Income Taxes Payable 214 Wages Payable 215 Utilities Payable 216 Insurance Payable 217 Interest Payable 218 Rent Payable 219 Unearned Service Revenue 231 Bonds Payable EQUITY 311 Common Stock 321 Retained Earnings 331 Dividends Instructions Chart Of Accounts T-Accounts General Journal T-Accounts Accounts Receivable Beg. Bal. End. Bal. Prepaid Rent Beg. Bal. End. Bal Supplies End. Bal. Accounts Payable Beg. Bal. End. Bal Interest Payable Instructions Chart Of Accounts T-Accounts General Journal T-Accounts Interest Payable Beg. Bal. End. Bal Notes Payable Beg. Bal. End. Bal. Common Stock Beg. Bal. End. Bal. Retained Earnings Beg. Bal. End. Bal Service Revenue Comprehensive Problem Instructions Chart Of Accounts T-Accounts General Journal T-Accounts Service Revenue End, Bal Rent Expense End. Bal. Advertising Expense End. Bal. Wages Expense End. Bal. Repairs & Maintenance Expense End. Bal. Check My Work 5 more Check My Work uses remaining. Interest Expense End. Bal. Income Taxes Expense End. Bal