The following transactions occurred in April 201X for A. French's Placement Agency:

201X

Apr. 1 A. French invested $12,000 cash in the placement agency.

1 Bought equipment from Tiger Co. for $2,100 on account.

3 Earned placement fees of $1,800, but payment will not be received until May.

5 A. French withdrew $600 for personal use.

7 Paid wages expense, $400.

9 Placed a client on a local TV show, receiving $3,000 cash.

15 Bought supplies from Howdi Co. for $600 on account.

28 Paid telephone bill for April, $200.

29 Advertising bill from Shaker Co. received but not paid, $130.

The chart of accounts for A. French Placement Agency is as follows:

Your task is to do the following:
a. Set up a ledger based on the chart of accounts using four-column accounts.
b. Journalize (page 1) and post the April journal entries.
c. Prepare a trial balance at April 30, 201X.

Transcribed Image Text:

Chart of Accounts Owner's Equity 311 312 Revenue 411 Expenses 511 521 531 Assets Cash A. French, Capital A. French, Withdrawals Accounts Receivable 112 131 Supplies 141 Liabilities 211 Accounts Payable Equipment Placement Fees Earned Wage Expense Telephone Expense Advertising Expense