Set up T accounts for Cash; Accounts Receivable; Supplies; Accounts Payable; Capital Stock; Dividends; Professional Fees; and Operating Expenses.

REQUIRED:	Part (a) In the T accounts, record the following transactions of Texas Energy Consulting Services, Inc. for May, 2018, identifying each entry by number:
	(1)	The founder, Mr. Red Cardinal invested $12,000 cash in the business in exchange for capital stock.
	(2)	Texas Energy Consulting Services purchased supplies on account, $5,750.
	(3)	Texas Energy Consulting Services incurred and paid operating expenses, $5,000.
	(4)	Texas Energy Consulting Services billed clients for services rendered, $6,940.
	(5)	Texas Energy Consulting Services provided consulting services for cash clients---and received cash of $4,200 for services rendered.
	(6)	Texas Energy Consulting Services paid creditors on account, $1,000 (for the supplies purchased in transaction # (2)).
	(7)	Texas Energy Consulting Services received $2,600 from clients on account. Note that the revenue was already recorded in transaction #4.
	(8)	Texas Energy Consulting Services paid cash dividends $1,000.
Required Part (b)	Prepare a trial balance as of May 31, 2018 for Texas Energy Consulting Services.