The Recording Process P2-3A Carla Liu is a CGA. During the first month of operating her accounting practice, the fol lowing events and transactions occurred: May 1 Invested $18,000 cash and office equipment worth $8,500 in the business. 1 Paid office rent of $950 cash for the month. 2 Hired a secretary-receptionist at a salary of $2,400 per month 3 Purchased $1,450 of supplies on account from Read Supply Company. 11 Completed a tax assignment for J. Lau and billed him $1,725 for services rendered. 12 Received a $3,500 advance on a management consulting engagement with Arch Co. 17 Completed accounting services and collected $1,350 cash from the client. 21 J. Lau paid $900 for work completed on May 11. 23 Paid 60% of the balance due to Read Supply Company. 31 Received a $215 telephone bill for May, to be paid next month. 31 Paid the secretary-receptionist $2.400 salary for the month. 31 Withdrew $925 cash for her personal use. Carla uses the following chart of accounts: No. 101 Cash: No. 112 Accounts Receivable: No. 126 Supplies: No. 151 Office Equipment; No. 201 Accounts Payable; No. 209 Unearned Revenue; No. 301 C. Liu, Capital; No. 306 C. Liu, Drawings: No. 400 Service Revenue; No. 726 Salaries Expense, No. 729 Rent Expense; and No. 737 Telephone Expense. Instructions (a) Journalize the transactions. (b) Post to the ledger accounts. Use the standard form of account. (c) Prepare a trial balance at May 31, 2008