The following transactions occurred in Thorn Accounting Services Inc. during August 2015, its first month of operation. Aug 1 1 1 4 5 Issued share capital for $3,000 cash. Borrowed $10,000 cash from the bank. Purchased a used truck for $8,000 and issued a note payable for it. Paid $600 for a one-year truck insurance policy effective August 1. Collected $2,000 fees in cash from a client for work performed today Received an advance of $800 from a client for services to be performed later in the month. Billed $5,000 fees to clients for services performed to date. 6 7 9 Paid $250 for supplies used to date. 12 15 16 Purchased $500 of supplies on credit. These will be used over a period of 2 months. Collected $1,000 of the amount billed on August 7. Paid $200 for advertising in The News during the first two weeks of August. 20 Paid half of the amount owing for the supplies purchased on August 12. 21 22 25 25 Made a payment of $1,500 cash as a loan payment regarding item (2). Included in this payment was an interest charge of $100. Paid cash for the following expenses: rent for August, $350; salaries, $2,150; telephone, $50; truck repairs, $250. Performed the service for which an advance had been collected on August 6. 28 29 Billed $6,000 of fees to clients for services performed to date 30 Paid rent in advance for the next month $350 $5000 31 Used $150 of the Supplies purchased on August 9. Required: a. b. C. Record entries in the general journal. Post the transactions to the general ledger Prepare trial balance