On July 31, 2024, Lee Meche, MD, had the following balances in the ledger for his medical practice: Cash $8,800, Accounts Receivable $2,750, Supplies $585, Equipment $15,550, Notes Payable $10,000, Accounts Payable $850, L. Meche, Capital $15,000, L. Meche, Drawings $5,125, Service Revenue $10,410, Rent Expense $1,200, and Salaries Expense $2,250. Transactions during August 2024 follow:

Instructions

a. Create T accounts and enter the July 31 balances.

b. Post the transactions to the T accounts. Create new T accounts if needed.

c. Prepare a trial balance at August 31.

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Date 2024 Aug. 1 10 12 25 30 31 31 General Journal Ref Account titles Rent Expense Cash Accounts Payable Cash Cash Accounts Receivable Salaries Expense Cash Notes Payable Interest Expense Cash Cash Accounts Receivable Service Revenue L. Meche, Drawings Cash Debit 1,200 420 2,400 2,250 500 40 5,910 2,550 4,770 Credit 1,200 420 2,400 2,250 540 8,460 4,770