Spicewood Stables, Inc., was established in Dripping Springs, Texas, on April 1. The company provides stables, care for animals, and grounds for riding and showing horses. You have been hired as the new assistant controller. The following transactions for April are provided for your review.

1. Received contributions from investors and issued $260,000 of common stock on April 1.
2. Acquired a barn for $147,000. On April 2, the company paid half the amount in cash and signed a three-year note payable for the balance.
3. Provided $20,600 in animal care services for customers on April 3, all on credit.
4. Rented stables to customers who cared for their own animals; received cash of $23,000 on April 4 for rent earned this month.
5. On April 5, received $2,550 cash from a customer to board her horse in May, June, and July (record as Deferred Revenue).
6. Purchased and received hay and feed supplies on account on April 6 for $3,350.
7. Paid $3,380 on accounts payable on April 7 for previous purchases.
8. Received $1,420 from customers on April 8 on accounts receivable.
9. On April 9, prepaid a two-year insurance policy for $4,300 for coverage starting in May.
10. On April 28, paid $1,210 in cash for water and utilities used this month.
11. Paid $15,100 in wages on April 29 for work done this month.
12. Received an electric utility bill on April 30 for $2,350 for usage in April; the bill will be paid next month

Post the transaction activity from requirement 1 to the T-Accounts below. All accounts begin with zero balances because this is the first month of operations.

Cash					Accounts Receivable
Beg. Bal					Beg. Bal
					End. Bal
End. Bal
Supplies					Prepaid Insurance
Beg. Bal					Beg. Bal
End. Bal					End. Bal
Buildings					Accounts Payable
Beg. Bal					Beg. Bal
End. Bal					End. Bal	0
Deferred Revenue					Notes Payable (long-term)
Beg. Bal					Beg. Bal
End. Bal					End. Bal
Common Stock					Service Revenue
Beg. Bal					Beg. Bal
End. Bal					End. Bal
Rent Revenue					Utilities Expense
Beg. Bal					Beg. Bal
End. Bal					End. Bal
Salaries and Wages Expense
Beg. Bal
End. Bal