The trial balance of the online book publishing business of Bobbie Singh at November 15, 2014, is shown below.

During the remainder of November, the business completed the following transactions:
Nov. 16 Collected $6,000 cash from a client on account.
17 Performed publishing services for a client on account, $2,100.
21 Made a payment on account in the amount of $2,600.
22 Purchased supplies on account, $4,600.
23 Singh withdrew $2,100 cash for personal use.
24 Was advised that Desk Top Inc. was prepared to buy all of Sunshine Publishing for $67,800.
26 Received $11,900 cash for design work just completed.
30 Paid employees' salaries, $2,700 cash.
Required
1. Record the transactions that occurred during November 16 through 30 in Page 6 of the journal. Include an explanation for each entry.
2. Post the transactions to three-column accounts in the ledger, using dates, account numbers, journal references, and posting references. Open the ledger accounts listed in the trial balance together with their balances at November 15. Enter Bal. (for previous balance) in the Item column, and place a check mark (✓) in the journal reference column for the November 15 balance of each account.
3. Prepare the trial balance of Sunshine Publishing at November 30, 2014.

Transcribed Image Text:

SUNSHINE PUBLISHING Trial Balance November 15, 2014 Account Number Account Debit Credit $ 16,000 Cash 1100 1200 Accounts receivable 16,000 1,200 1300 Supplies Equipment Accounts payable B. Singh, Capital B. Singh, Withdrawals 1900 70,000 $ 9,200 90,000 2100 4000 4100 4,600 5000 Service revenue 14,200 6000 Rent expense Salaries expense 2,000 3,600 6100 $113,400 Total $113,400