Question

Create T-accounts and then prepare a trial balance for the accounts below

January 1st	Cash	295,000
	Common stock		295,000
February 8th	Purchase	4,000
	Cash		4,000
March 1st	Prepaid Insurance	9,300
	Cash		9,300
March 31st	Rent	12,480
	Cash		12,480
April 1st	Equipment	18,000
	Cash		18,000
April 10th	Supplies	1,450
	Accounts Payable		1,450
May 15th	Purchase	10,730
	Cash		10,730
May 30th	Accounts Receivable	13,625
	Service Revenue (For grooming services)		13,625
June 1st	Advertisement expense	864
	Cash		864
June 30th	Cash	100,000
	Bond Payable		100,000
June 30th	Bond interest expense payable	No entry
	Cash		No entry
	As bonds are issued on June 30, interest will be due in next year.
July 25th	Accounts Receivable	14,225
	Service Revenue(For dog walking services)		14,225
July 31st	Accounts receivable	6,650
	Sales		6,650
August 2nd	Accounts Receivable	6,280
	Service Revenue (For boarding services)		6,280
August 6th	Cash	6,517
	Discount on sales	133
	Accounts Receivable		6,650
September 15th	Accounts Receivable	6,245
	Service Revenue(For Pet sitting services)		6,245
September 29th	Cash	1,250
	Accounts Receivable		1,250
October 13th	Accounts receivable	7,300
	Sales		7,300
October 29th	Cash	3,577
	Discount on sales	73
	Accounts Receivable		3,650
November 1st	Cash	2,000
	Loss on sale of equipment	4,000
	Equipment		2,400
November 15th	Salaries expense	3,500
	Salaries Payable		3,500
December 15th	Salaries Payable	3,500
	Cash		3,500

Answer 1