The following T-accounts summarize the operations of Brilliant Minds, Inc., a tutoring service, for April 2009.

Required:
1. Assuming that only one transaction occurred on each day (beginning on April 3) and that no dividends were paid, describe the transaction that most likely took place.
2. Prepare a trial balance at April 30,2009.

Transcribed Image Text:

Cash Accounts Receivable Supplies 4/1 500 700 4/8 4/1 700 375 4/24 4/1 900 4/3 2,000 325 4/9 4/18 1,500 140 4/11 4/24 375 50 4/15 4/15 150 Accounts Payable 4/9 325 625 4/1 Equipment Notes Payable 4/1 1,200 4/8 700 2,000 4/3 Common Stock Retained Earnings 2,000 4/1 4/11 140 675 4/1 1,500 4/18