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The trial balance of Selvin Service Center, Inc., on December 1, 2018. lists the entity's assets, Babes, and stockholders' equity on that date (Click the icon to view the sot, liabilities, and stockholders' equity) During December, the business completed the following transactions: (Click the icon to view the transactions.) Read the recents Requirement 1. Journaliure the preceding transactions. Key the journal entries by ansaction letter a. Borrowed 544,000 from the bank wth Selin signing a note payable in the name of the business (Record cotits first, then credits. Select the explanation on the last line of the joumal entry table) Journal Entry Date Debit Credit Choose from any list or enter any number in the input fields and then click Check Answer Trial Balance Transactions Balance b. Account Title Debit Credit Cash 22 000 5,000 Accounts receivable Accounts payable Common stock Borrowed 544,000 from the bank, with Selvin signing a note payable in the name of the business Paid cash of $42,000 to a real estate company to acquire land. c. Performed a service for a customer and received cash of $5,000 d. Purchased supplies on credit, $420, Performed a service for a customer and earned $2,900 of revenue on account. . Paid $1,000 on account 9. Paid the following cash expenses salaries $2.600, rent, $1,400, and interest, $500 h. Received $3,500 on account L Received a $180 utility bill that will be paid next week. Declared and paid a dividend of $1,700. $ 1.700 10,000 15,300 Retained earnings Total 27,000 $ 27.000 Print 0 Requirements 1. Journalize the preceding transactions. Key the journal entries by transaction letter. 2. The following accounts, with the balances indicated have been created. Enter the beginning balances and post the transactions from the journal to the ledger. Compute the balance in each account after all the transactions have been posted. Assets-Cash, $22,000; Accounts Receivable, $5,000; Supplies, no balance; Land, no balance LiabilitiesAccounts Payable, $1,700; Note Payable, no balance Stockholders' EquityCommon Stock, $10,000; Retained Earnings, $15,300; Dividends, no balance Revenues-Service Revenue, no balance Expenses(none have balances) Salary Expense, Rent Expense, Interest Expense, Utilities Expense . . . * Requirements the . th AssetsCash, $22,000; Accounts Receivable, $5,000; Supplies, no balance; Land, no balance Liabilities-Accounts Payable, $1,700; Note Payable, no balance Stockholders' EquityCommon Stock, $10,000; Retained Earnings, $15,300; Dividends, no balance Revenues-Service Revenue, no balance Expenses(none have balances) Salary Expense, Rent Expense, Interest Expense, Utilities Expense Prepare the trial balance of Selvin Service Center, Inc., at December 31, 2018. To determine the net income or net loss of the company during the month of December, prepare a single-step income statement for the month ended December 31, 2018. List the expenses in order from the largest to the smallest. . 3. 4