The following T-accounts summarize the operations of Brilliant Minds Inc., a tutoring service, for April 2011.

Required:
1. Assuming that only one transaction occurred on each day (beginning on April 3) and that no dividends were paid, describe the transaction that most likely took place.
2. Prepare a trial balance at April 30, 2011.

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Assets Liabilities Stockholders' Equity Cash Common Stock Accounts Payable 4/9 325 4/1 625 4/1 2,000 4/1 500 48 700 4/3 2,000 4/9 325 4/18 1,500 4/15 150 4/24 375 Notes Payable Retained Earnin 4/3 2,000 4/11 140 4/1 675 4/18 1,500 Accounts Receivable 4/1 700 4/24 375 Supplies 4/1 900 4/11 140 4/15 150 quipment 4/1 1,200 4/8 700