The following events apply to Equipment Services Inc. in its first year of operation:

1.

Acquired $60,000 cash from the issue of common stock.

2.

Received a $8,200 cash advance for services to be provided in the future.

3.

Purchased $2,000 of supplies on account.

4.

Earned $36,000 of service revenue on account.

5.

Incurred $16,100 of operating expenses on account.

6.

Collected $28,500 cash from accounts receivable.

7.

Made a $15,100 payment on accounts payable.

8.

Paid a $2,000 cash dividend to the stockholders.

9.

Recognized $1,600 of supplies expense.

10.

Recorded $3,100 of accrued salaries expense.

11.

Recognized $3,100 of revenue for services provided to the customer in Event 2.

12.

Recognized $500 of accrued interest revenue.

Required

a.

Record the events in T-accounts and determine the ending account balances.

b.	Test the equality of the debit and credit balances of the T-accounts by preparing a trial balance