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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).

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).

Skysong, Inc. Trial balance December 31, 2019

Debit

Credit

Cash

$ 8,100

Accounts Receivable

14,900

Supplies

13,100

Prepaid Rent

3,200

Equipment

21,000

Accounts Payable

$19,000

Common Stock

30,400

Retained Earnings

10,900

$60,300

$60,300

Summarized transactions for January 2020 were as follows.

1. Advertising costs, paid in cash, $1,030.
2. Additional supplies acquired on account $3,290.
3. Miscellaneous expenses, paid in cash, $1,870.
4. Cash collected from customers in payment of accounts receivable $12,000.
5. Cash paid to creditors for accounts payable due $12,320.
6. Repair services performed during January: for cash $6,700; on account $8,840.
7. Wages for January, paid in cash, $2,380.
8. Dividends during January were $2,550.

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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 Advertising Expense Miscellaneous Expense Salaries and Wages Expense Prepare a trial balance as of January 31, 2020. Skysong, Inc. Trial balance Debit Credit $ $ Totals $

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