Tracy Madding is an attorney opening her own office on March 1, 2017. She operates her business as a sole proprietorship. The office is located at 1345 Main Street, Lodi, CA 95240. The owner of the building, Apex Business Management, signed Tracy to a one-year lease for $800 per month. The IRS issued her an employer identification number of 15-6789545. Tracy called the local telephone company, Pacific Bell, and arranged for two lines: telephone 209-555-9899; fax 209-555-3211.

Tracy spoke with an accountant, and together they decided that Tracy should use the accrual method of accounting because she may, in the future, give credit terms to her clients. Tracy's business will use real time posting, an accounting period of 12 months, and a fiscal year beginning January 2017.

Activities for March 2017

1.Set up the company with the name of Tracy Madding, Attorney-at-Law (Your Last Name).

2.Find a chart of accounts using the information below: