The consulting firm of Martin and Associates uses the accounts listed below. On a separate sheet of paper, set up T accounts for each of the accounts listed and record the balances as of December 1, 20X1 on the normal balance side of the accounts.

Cash	$	5,400		Joan Martin, Capital	15,700
Accounts receivable		8,400		Joan Martin, Drawing	-0-
Prepaid rent		-0-		Fees income	-0-
Office equipment		7,900		Utilities expense	-0-
Accounts payable		6,000		Salaries expense	-0-

The firm has the following transactions during the month of December 20X1. Record the effects of these transactions in the T accounts.

1. Paid $1,400 for one month's rent.
2. Collected $5,200 in cash from credit customers.
3. Performed services for $7,400 in cash.
4. Paid $4,400 for salaries.
5. Issued a check for $3,400 to a creditor.
6. Performed services for $10,400 on credit.
7. Purchased office equipment for $1,400 on credit.
8. The owner withdrew $3,400 in cash for personal expenses.
9. Issued a check for $640 to pay the monthly utility bill.

1. Post the above transactions into the appropriate T accounts.
2. Using the information shown, prepare a trial balance for Martin and Associates at December 31, 20X1 before any adjusting entries are made.