Teofisto Arenas recently established abusiness that will operate as Arenas Cleaning Services. Thetransactions for the month of February, 2010 are presentedbelow:

February 1 Deposited3,000,000 cash in a bank account in the name of the newcompany.

3 Acquired Cleaning supplies on account, 76,400.

5 AcquiredCleaning equipment on account, 123,000.

6 Acquired anold service vehicle costing 154,000 for the business, paying 80,000and financing the balance by signing a note.

7 Paidrent on office space for the month, 12,000.

8 Received 31,800 cash for cleaning services rendered.

10 Paid for anewspaper advertisement, 2,500.

12 Paid forinsurance for the next six months, 12,000.

14 Paidmiscellaneous expenses, 2,200.

15 Billed customers35,700 for cleaning services rendered.

16 Paid salaries,18,400.

20 Received cash,20,000 for the customers billed last February 15.

22 Paid the amountdue for the acquisition of the old service vehicle.

25 Paid telephoneexpenses, 2,500.

28 Paid salaries,20,600.

28 Billed customersfor cleaning services rendered, 22,500.

28 Withdrew 19,000from the business for personal use.

Required:

1. Prepare the journal entries for theforegoing transactions.
2. Post the entries in a ledger usingT-account.
3. Prepare a trial balance.