T-Accounts

Transaction Analysis and Trial Balance Pam Brown owns Art Graphics, a firm providing designs for advertisers and market analysts. On July 1, the business's general ledger showed the following normal account balances Cash $9,200 Accounts Payable $2,800 Accounts Receivable 10,500 Notes Payable 5,700 Common Stock 2,000 Retained Earnings 9,200 Total Assets 519,700 Total Liabilities and Stockholders' Equity $19,700 The following transactions occurred during the month of July: July 1 Paid july rent, $1,370 2 Collected $7,800 on account from customers. 3 Paid $3,200 installment due on the $5,700 noninterest bearing note payable 4 Billed customers for design services rendered on account, 517,250. 5 Rendered design services and collected from cash customers, $1,900 6 Paid $2.100 to creditors on account 7 Collected $13.450 on account from customers. 8 Paid a delivery service for delivery of graphics to commercial firms, 51,100. 9 Paid july salaries, 55,300, 10 Received invoice for July advertising expense, to be paid in August $1,300 11 Paid utilities for July $1,050. 12 Paid stockholders a dividend of $2,700 cash. 13 Received invoice for supplies used in July, to be paid in August, $2,960, 14 Purchased computer for $5,000 cash to be used in businessmann.tumonth 33 My Subscriptions Business Course Return to course 12 Paid stockholders a dividend of 2.700 cash 13 Received invoice for supplies used in July, to be paid in August, 52,960 14 Purchased computer for $5,000 cash to be used in business starting next month. Jorge Gonzalez Required: a. Set up accounts for the general ledger with July 1 balances and enter the beginning balances. Also provide the following accounts: Equipment Service Fees Earned; Rent Expense: Salaries Expense; Delivery Expense; Advertising Expense; Utilities Expense; Supplies Expense; and Dividends. Prepare journal entries and record the listed transactions in the appropriate T-accounts. b. Prepare a trial balance as of July 31. Journal Entries T-Accounts Trial Balance Cash 9,200 0 Beg Equipment 0 0 Beg Bal (1) (2) (3) (5) 0 0 (14) Bal Accounts Receivable 0 0 0 0 0 0 0 0 0 0 0 0 0 0 (4) (7) Bal 0 0 0 Notes Payable 0 0 0 0 Bes D 0 0 (3) Bal 0 0 0 0 0 (7) 18) (9) (11) 0 0 0 0 (12) 0 0 0 0 0 Bal 0 Accounts Payable 0 Beg Common Stock 0 Retained Earnings 0 0 0 0 0 Beg Bal 0 Beg Bal 0 0 0 0 (10) 21 Dividends (13) 0 0 Bal 0 0 (12) Bal Dividends 0 0 0 Salaries Expense 0 (1) Rent Expense 0 0 0 Service Fees Earned 0 0 0 0 0 0 (9) Bal Bal 0 0 0 (5) Bal Delivery Expense 0 0 (8) Bal 0 0 Utilities Expense Supplies Expense 0 (10) Bal Advertising Expense 0 0 0 0 (13) Bal Bal 0 0 0 0 Please answer all parts of the