Sophie Vaillancourt started an investment management business, Vaillancourt Management, on June 1, 2017. During the first month of operations, the business completed the following selected transactions:

a. Sophie began the business with an investment of $20,000 cash, land valued at $60,000, and a building valued at $120,000. The business gave Sophie owner's equity in the business for the value of the cash, land, and building.

b. Purchased office supplies on account, $2,600.

c. Paid $15,000 cash for office furniture.

d. Paid employee salary, $2,200 cash.

e. Performed consulting service on account for clients, $12,100.

f. Paid in cash $800 of the account payable created in Transaction b.

g. Received a $2,000 bill for advertising expense that will be paid in the near future.

h. Performed consulting services for customers and received cash, $5,600.

i. Received cash on account, $2,400.

j. Paid the following cash expenses: (1) Rent of photocopier, $1,700. (2) Utilities, $400.

k. Sophie withdrew $6,500 cash for personal use.

Required 1. Record each transaction in the journal. Use the letters to identify the transactions. 2. Open the following three-column ledger accounts: Cash, #1100; Accounts Receivable, #1300; Office Supplies, #1400; Office Furniture, #1500; Building, #1700; Land, #1800; Accounts Payable, #2100; Sophie Vaillancourt, Capital, #3100; Sophie Vaillancourt, Withdrawals, #3200; Service Revenue, #4100; Advertising Expense, #5100; Equipment Rental Expense, #5300; Salary Expense, #5500; Utilities Expense, #5700. 3. Post to the accounts and keep a running balance for each account. 4. Prepare the unadjusted trial balance of Vaillancourt Management at June 30, 2017.