select the labels for thr heading and complete trial balance

assets first and then liabilities and all accounts of shareholders equity

a. The business has cash of $14,000 and land for a future office site valued at $49,000. The corporation issued common shares to the shareholders in exchange for these investments. b. Borrowed $48,000 from the bank, and signed a note payable. c. Paid $61,000 for music equipment. d. Purchased supplies on account, $1,500. e. Paid employees' salaries, $1,300. f. Received $600 for service performed for customers. g. Performed services to customers on account, $4,400. h. Paid $500 of the account payable created in transaction (d). i. Received a $650 utility bill that will be paid in the near future. j. Received cash on account, $3,300. k. Paid the following cash expenses: rent, $1,200; advertising, $550