The following events apply to Equipment Services Inc. in its first year of operation:
1. Acquired $60,000 cash from the issue of common stock.
2. Received a $8,200 cash advance for services to be provided in the future.
3. Purchased $2,000 of supplies on account.
4. Earned $36,000 of service revenue on account.
5. Incurred $16,100 of operating expenses on account.
6. Collected $28,500 cash from accounts receivable.
7. Made a $15,100 payment on accounts payable.
8. Paid a $2,000 cash dividend to the stockholders.
9. Recognized $1,600 of supplies expense.
10. Recorded $3,100 of accrued salaries expense.
11. Recognized $3,100 of revenue for services provided to the customer in Event 2.
12. Recognized $500 of accrued interest revenue.
Required
a. Record the events in T-accounts and determine the ending account balances.
b. Test the equality of the debit and credit balances of the T-accounts by preparing a trial balance.