Tom Zopf owns and manages a computer repair service, which had the following trial balance on December 31, 2019 (the end of its fiscal year). Tamarisk, Inc. Trial balance December 31, 2019 Debit Credit Cash $7,000 Accounts Receivable 15.100 Supplies 12,200 Prepaid Rent 3,200 Equipment 20,500 Accounts Payable $15,900 Common Stock 31,100 Retained Earnings 11,000 $58,000 $58,000 Summarized transactions for January 2020 were as follows. 1. Advertising costs, paid in cash, $1,170. 2. Additional supplies acquired on account $3,390. 3. Miscellaneous expenses, paid in cash, $1,970. 4. Cash collected from customers in payment of accounts receivable $12,050. 5. Cash paid to creditors for accounts payable due $12,710. 6. Repair services performed during January: for cash $6,910; on account $9,630. 7. Wages for January, paid in cash, $2,280. 8. Dividends during January were $2,600. * Your answer is incorrect. Open T-accounts for each of the accounts listed in the trial balance, and enter the opening balances for 2020. Cash Accounts Receivable Supplies Prepaid Rent Equipment Accounts Payable Common Stock Prepare journal entries to record each of the January transactions. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) No. Account Titles and Explanation 1. Advertising Expense Cash 2. Supplies 3. Cash Miscellaneous Expense Cash 4. Cash Accounts Receivable 5. Accounts Payable Cash Debit 1170 3390 1970 12050 12710 6. Accounts Receivable 9630 Cash Service Revenue 6910 Credit 1170 3390 1970 12050 12710 16540 Your answer is partially correct. Post the journal entries to the accounts in the ledger. (Post entries in the order of journal entries presented in the previous part.) Bal. Cash 7,000 1 4 v 12050 6. Bal. 8620 24 3 5 8 < v > Bal. Accounts Receivable 15,100 6 9630 Ball 12680 1170 3390 1970 2600 12050 Cash Accounts Receivable Supplies Accounts Payable Prepaid Rent Equipment Common Stock Retained Earnings Dividends Service Revenue Tamarisk, Inc. Trial balance January 31, 2020 Debit 8620 12680 15590 3200 20500 2600 Advertising Expense 1170 Miscellaneous Expense 1970 Credit 6440 31100 11000 16540