* Semic Cat Marine The Rocky Mountain Lounge X Cling the length of time Show Me How Service Revenue Retained Earnings 994,000 101,200 seg. Bal. End, Bal. 994,000 End. Bal. 101,200 Rent Expense 48,000 Insurance Experise 4,000 e End. Bat. 4,000 40,000 Salaries Expense 702,000 Utilities Expense 56,000 56,000 End. Dat 202,000 Ball Income Taxes Expense Interest Expense 11,000 1 19,700 End. Bat. 11,000 1 Setup Taccounts for each account to analyze and journalze transactions, identify the financial statement elements that are attected by the transaction and determine whether the clements increase Journal entry by defining the normal balance of the account. Increases or decreases to an account are based on the normal balance of the account. Be sure to transfer amounts in the Journal Posting is the process of transferring Information from the general Journal to the general ledger. You may use the account to represent the ledger the ending balances in the T-accounts to prepare a trial balance. If an amount box does not require an entry, leave it blank Western Sound Studios Accounts Receivable 34,000 195,000 11,000 314,000 90,000 a Post your ornal entries to the appropriate accounts a balance serate entrare (0) Cash 16.100 58.000 gat 1814.000 5.000 3,000 56,000 Endal 703,000 th 22,200 19,700 End, 320,00 Accounts Payable Interest Payable 11,200 peg. Bal 11,200 11,900 ga ind Indel 11,900 Insurance Payable 1,000 g. Bat. 1,000 lient Payable 10,000 g. Bal End. Bat. 10,000 O Jend. Bal. Common Stock Notes Payable Beg Bali Ines Bal 100,000 100,000 165,000 165,000 Endal End. Bal