The following transactions occurred during the companys first month;

April 1. The owner invested: cash, $26,200; accounts receivable, $6,000; goods $11,200; supplies, $2,800; and office equipment, $25,000.

1. Paid three months' rent in advance, $9,600.

2. Paid the insurance policies premiums for six months in advance, $3,600.

4. Cash received from customers as an advance payment for services to be rendered in the future, $10,000.

5. Purchased goods on account from XYZ Co., $4,000.

6. Received cash from customers on account, $3,600.

10. Paid cash for a magazine advertisement, $240.

12. Paid XYZ Co. for part of the debt incurred on April 5, $2,400.

12. Services provided on account for $8,400.

14. Paid the worker for two weeks' wage, $1,500.

17. Collected cash from cash customers for fees earned during first half of the month, $13,500.

18. Paid cash for supplies, $1,600.

19. Sold goods for $6,000 in cash.

20. Recorded services provided on account for $4,200.

27. Paid the worker for two weeks' wage, $1,500.

29. Sold goods on account for $9,000.

30. The owner withdrew $6,000 for personal use.

Instructions

- Journalize and post the closing entries.

- Prepare a post-closing trial balance.