Transaction Analysis and Trial Balance Daniel Kelly, an attorney, opened his law practice on October 1. Prepare journal entries for the following October transactions, post the entries to the T-accounts, and prepare a trial balance: 1) Kelly started his law practice by contributing $21,450 cash to the business on October 1, receiving shares of common stock in the company. 2) Purchased office equipment on account, $11,440. 3) Paid office rent for October, $770. 4) Paid $10,560 to access 5) Billed clients for services rendered, $12,430. 6) Made $6,600 payment on account for the equipment purchased on October 2. 7) Paid legal assistants salary, $3,080. 8) Collected $10,340 from clients previously billed for services. 9) Received invoice for October utilities, $198; it will be paid in November. 10) The company paid stockholders $1,650 as a cash dividend.