Dodge City Realty acts as an agent in buying, selling, renting, and managing real estate. The unadjusted trial balance on July 31, 2010, is shown below.

The following business transactions were completed by Dodge City Realty during August 2010:
Aug. 1. Purchased office supplies on account, $2,100.
2. Paid rent on office for month, $4,000.
3. Received cash from clients on account, $44,600.
5. Paid annual insurance premiums, $5,700.
9. Returned a portion of the office supplies purchased on August1, receiving full credit for their cost, $400.
17. Paid advertising expense, $5,500.
23. Paid creditors on account, $4,950.
29. Paid miscellaneous expenses, $500.
30. Paid automobile expense (including rental charges for an automobile), $1,500.
31. Discovered an error in computing a commission; received cash from the salesperson for the overpayment, $1,000.
31. Paid salaries and commissions for the month, $27,800.
31. Recorded revenue earned and billed to clients during the month, $83,000.
31. Purchased land for a future building site for $75,000, paying $10,000 in cash and giving a note payable for the remainder.
31. Withdrew cash for personal use, $5,000.
31. Rented land purchased on August 31 to a local university for use as a parking lot during football season (September, October, and November); received advance payment of $3,600.
Instructions
1. Record the August 1 balance of each account in the appropriate balance column of a four-column account, write Balance in the item section, and place a check mark (✔) in the Posting Reference column.
2. Journalize the transactions for August in a two-column journal. Journal entry explanations may be omitted.
3. Post to the ledger, extending the account balance to the appropriate balance column after each posting.
4. Prepare an unadjusted trial balance of the ledger as of August 31,2010.

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Dodge City Realty Unadjusted Trial Balance July 31, 2010 Debit Balances Credit Balances 11 Cash 12 Accounts Receivable 13 Prepaid Insurance 14 Office Supplies 16 Land 33,920 57,200 7,200 1,600 21 Accounts Payable 22 Unearned Rent 23 Notes Payable 31 Drew Harris, Capital 32 Drew Harris, Drawing 41 Fees Earned 51 Salary and Commission Expense 52 Rent Expense 53 Advertising Expense 54 Automobile Expense 59 Miscellaneous Expense 9,920 50,480 25,600 352,000 224,000 28,000 22,880 10,240 1,760 412,400 412,400