Transaction Analysis and Trial Balance Expense; Rent Expense; and Utilities Expense. each account and prepare a trial balance sheet as of October 31. Jennings started his law practice by contributing $21,500 cash to the business on October 1 , receiving shares of common stock in the company. Purchased office equipment on account, $11,400. Paid office rent for October, $1,100. 4 Paid $9,750 to access online legal database for two years. Billed clients for services rendered, $14,000. | 6 Made $6,000 payment on account for the equipment purchased on October 2 . 7 Paid legal assistant's salary, $2,800. Collected $7,500 from clients previously billed for services. Received invoice for October utilities, $190; it will be paid in November. 10 Paid stockholders $1,500 as a cash dividend DAVEJENNINGS, ATTORNEY-AT-LAW Trial Balance October 31