this needs to be done in a T Account with a Trial Balance.

1) Enter the following transactions for the Fly by Night FBO, Inc. (FbN) for the year 2016 in a T account sheet, then create a Trial Balance, dated 12/31/2016. (Read the transactions carefully. Some have entries in more than one month.) A. On January 1, 2016, FbN issues 5,000 share of stock in the corporation at $25.00 B. On January 15th, FbN purchases two acres of land as a building site, paying C. On February 2, desks are purchased for FbN at a total cost of $4,400. FbN per share. S10,000 per acre. decides to pay for them by paying a down payment of $2,000 cash and promising to make equal monthly payments for a year, the first payment to be made on March 1 D. On March 24th, a hangar is constructed (inchuding equipment) at a cost of $25,500 for the hangar and $2,800 for the equipment. FbN pays $6,000 and signs a 5% mortgage (interest and principal to be paid at the end of two years) for the balance for the hangar, and $2,800 cash for the equipment. E. On March 30th, FbN purchases a one-year comprehensive insurance poicy for $14,400 F. On March 31st, FbN purchases 4,900 gallons of fuel inventory from Texoca Company on account for $29,400. G. On April 2, the company sells 2000 gallons of fuel at a total cash price of $13,000 H. On April 8th, FbN pays $10,000 to Texoca Company I. On July 15th, FbN makes a $3,100 cash purchase of parts inventory. It also pays $200 of associated freight charges. PAGE 1 OF 1 HELP IMPROVE OFFICE