The following amounts summarize the financial position of Smith Computing, Inc., on September 30, 2021: (Click the icon to view the September 30, 2021 financial position.) During October 2021, Smith Computing completed these transactions: (Click the icon to view the transactions.) Requirement 1. Journalize the transactions of Smith Computing, Inc. (Record debits first, then credits. Exclude explanations from any journal entries.) a. The company received cash of $3,900 and issued common stock. Journal Entry (a) b. Performed services for a customer and received cash of $5,900. (b) (c) Accounts c. Paid $4,400 on accounts payable. (d) F Journal Entry Accounts Journal Entry d. Purchased supplies on account, $1,400. Accounts Journal Entry Accounts Debit Debit Debit Debit Credit Credit Credit Credit September 30, 2021 financial position Cash Bal 2,050 Transactions Assets. C. d. e. **** Accounts + Receivable+ Supplies + Equipment 3,550 11,800 Purchased supplies on account, $1,400. Collected cash from a customer on account, $2,000. a. The company received cash of $3,900 and issued common stock. b. Performed services for a customer and received cash of $5,900. Paid $4,400 on accounts payable. Smith Computing, Inc. performed a transactional analysis to determine the effects of the transactions on their accounting equation. (Click the icon to view the completed accounting equation analysis.) Read the requirements. Print = = Done f. Consulted on the design of a computer system and billed the customer for services rendered, $4,600. Liabilities Accounts Payable + 7,500 g. Recorded the following business expenses for the month: (1) paid office rent- $1,300; (2) paid advertising-$450. h. Declared and paid a cash dividend of $2,800. Stockholders' Equity Retained + Earnings 4,100 Common Stock 5,800 Accounting Equation Analysis Bal (a) (b) Accounts Cash + Receivable + Supplies + Equipment = 2,050 6,150 3,900 5,900 (c) (4,400) (d) (e) (1) (g) (1,750) 2,000 (h)(2,800) Bal Total X 4,900 Assets (2,000) 4,600 6,150 24,250 1,400 1,400 11,800 11,800 Stockholders' Equity Accounts Common Retained Type of Equity Payable + Stock + Earnings Transaction 7,500 5,800 4,100 3,900 Liabilities (4,400) 1,400 4,500 9,700 24,250 Issued stock 5,900 Service revenue 4,600 Service revenue (1,300) Rent expense (450) Advertising exp. (2,800) Dividends 10,050 d. Purchased supplies on account, $1,400. (d) (e) Journal Entry e. Collected cash from a customer on account, $2,000. Journal Entry Accounts S Accounts Debit Accounts Debit f. Consulted on the design of a computer system and billed the customer for services rendered, $4,600. Journal Entry Credit Debit Credit Credit g. Recorded the following business expenses for the month: (1) paid office rent-$1,300; (2) paid advertising-$450. Journal Entry (9) h. Declared and paid a cash dividend of $2,800. (h) Accounts Cash Journal Entry Accounts Debit Debit Credit Requirements 2 and 3. Prepare T-Accounts for each account. Insert in each T-account its September 30 balance as given (example: Cash $2,050). Then, post the October transactions to the T-accounts. Compute the balance in each account. Begin by entering the appropriate beginning balances and posting transactions (a) through (h). Label each balance and transaction with the appropriate posting reference. Finally, label and calculate each ending balance. (For accounts with a zero beginning balance, do not enter a "0" or select the "Bal" reference.) Review the journal entries from Requirement 1. Common Stock Credit Accounts Receivable Supplies Equipment Accounts Payable Retained Earnings Dividends Service Revenue Rent Expense Advertising Expense