Using the accounting cycle journalize each transaction, post to T-accounts and prepare a trial balance at June 30, 2011.

Prepare a journal entry for cach of these transactions. 00 Exercise 2-44 Accounting Cycle Rosenthal Decorating Inc. is a commercial painting and decorating contractor that began op ra tions in January 2011. The following transactions occurred during the year: a. On January 15, Rosenthal sold 500 shares ofits common stock to William Hensley for $10,000 b. On January 24, Rosenthal purchased $720 of painting supplies from Westwood Builders' Supply Company on account. On February 20, Rosenthal paid $720 cash to Westwood Builders' Supply Company for the painting supplies purchased on January 24. On April 25, Rosenthal billed Bultman Condominiums $12,500 for painting and decorating services performed in April. On May 12, Rosenthal received $12,500 from Bultman Condominiums for the painting and decorating work billed in April. On June 5, Rosenthal sent Arlington Builders a S9,500 bill for a painting job completed on that day. c. d. e. f. g. On June 24, Rosenthal paid wages for work performed during the preceding week in the amount of S6,700. Required: 1. Prepare a journal entry for each of the transactions. 2. Post the transactions to T-accounts. 3. Prepare a trial balance at June 30, 2011