This problem continues the accounting process for Fitness Equipment Doctor, Inc., from the continuing problem in Chapter 2. The trial balance for Fitness Equipment Doctor, Inc., at April 30, 2016, should look like this:

During May, the following transactions occurred:
May 1 Paid four months' rent, $6,400.
4 Performed service for a customer and received cash, $2,500.
9 Received $3.600 from customers for services to be performed later,
12 Purchased $650 of supplies on account.
15 Billed customers for services performed, $3.400.
16 Paid receptionist's salary, $675.
22 Received $3800 on account
25 Paid $2500 on account
28 Received $1 .600 cash for services performed
30 Paid $2,000 of dividends.
Requirements
1. Journalize the transactions that occurred in May. Omit explanations.
2. Using the four-column accounts from the continuing problem in Chapter 2, post the transactions to the ledger creating new ledger accounts as necessary. Omit posting references. Calculate the new account balances at May 31.
3. Prepare the unadjusted trial balance for Fitness Equipment Doctor, Inc., at May 31.
4. Journalize and post the adjusting entries for May based on the following adjustment information.
a. Record the expired rent.
b. Supplies on hand, $450.
c. Depreciation; $450 equipment, $115 furniture, $1,200 vehicles.
d. Services performed but unbilled, $2,800.
e. Accrued salaries, $675.
f. Unearned service revenue earned as of May 31, $700.
5. Prepare an adjusted trial balance for Fitness Equipment Doctor, Inc., at the end of May.
6. Prepare the income statement and statement of retained earnings for the three month period March 1 through May 31, 2016. Also prepare a balance sheet at May 31, 2016.
7. Prepare and post closing entries.
8. Prepare a post-closing trial balance at May 31, 2016?

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Fitness Equipment Doctor, Inc. Trial Balance April 30, 2016 DEBIT ACCOUNT CREDIT $23,485 5,600 Cash Accounts Receivable Supplies Land 1,350 16,000 Furniture 2,100 Equipment Vehicles 3,600 35,800 $ 2,850 35,800 Accounts Payable Notes Payable Common Stock 45,000 3,800 Dividends Service Revenue 13,300 Salaries Expense Rent Expense Advertising Expense Utilities Expense Miscellaneous Expense 2,645 1,500 500 495 75 $96,950 $96,950 Total