Selected transactions from the journal of Teresa Gonzalez, investment broker, are presented below.

Instructions

(a) Post the transactions to T accounts.

(b) Prepare a trial balance at August 31, 2008.

Transcribed Image Text:

Date Aug. 1 Account Titles and Explanation Ref. Debit Credit Cash 5,000 Teresa Gonzalez, Capital 5.000 (Owner's investment of cash in business) 10 Cash 2,400 Service Revenue 2,400 (Received cash for services provided) 12 12 Office Equipment 5,000 Cash 1,000 Notes Payable 4,000 (Purchased office equipment for cash and notes payable) 25 25 Accounts Receivable 1,600 Service Revenue 1,600 (Billed clients for services provided) 31 Cash 900 Accounts Receivable 900 (Receipt of cash on account)