This is the trial balance of Lacey Company on September 30.

The October transactions were as follows.
Oct. 5 Received $1,300 in cash from customers for accounts receivable due.
10 Billed customers for services performed $5,100.
15 Paid employee salaries $1,200.
17 Performed $600 of services in exchange for cash.
20 Paid $1,900 to creditors for accounts payable due.
29 Paid a $300 cash dividend.
31 Paid utilities $400.
Instructions
(a) Prepare a general ledger using T-accounts. Enter the opening balances in the ledger accounts as of October 1. Provision should be made for these additional accounts: Dividends, Service Revenue, Salaries and Wages Expense, and Utilities Expense.
(b) Journalize the transactions, including explanations.
(c) Post to the ledger accounts. (d) Prepare a trial balance on October 31, 2017.

Transcribed Image Text:

LACEY COMPANY Trial Balance September 30, 2017 Debit $19.200 2,600 2,100 8,000 Credit Cash Accounts Receivable Supplies Equipment Accounts Payable Unearned Service Revenue Common Stock Retained Earnings 4,800 1,100 15,000 11,000 $31 900 $31,900 118