The consulting firm of Martin and Associates uses the accounts listed below. R the n ecord the opening balances as of December 1, 2019 on ormal balance side of the following T-Accounts. List of accounts with their opening balances: Cash Accounts Receivable 9,400 Rent Expense office Equipment Accounts Payable Joan Martin, Capital 16,700 Joan Martin, Draving $ 6,400 Fees Income 8,900 Utilities Expense -0- 8,000 Salaries Expense 0- The firm has the following transactions during the month of December 2019. Record the effects of these transactions in the T accounts a. Paid $2,400 for one month's rent.
b. Collected $6,200 in cash from credit customers.
c. Performed services for $8,400 in cash
d. Paid $5,400 for salaries
e. Issued a check for $4,400 to a creditor.
f. Performed services for $11,400 on credit.
g. Purchased office equipment for $2,400 on credit.
h. The owner withdrew $4,400 in cash for personal expenses
i. Issued a check for $740 to pay the monthly utility bill.
1. Post the above transactions into the appropriate T accounts.
2. Using the information shown, prepare a trial balance for Martin and Associates at December 31, 2019.