From the T accounts created in SE6, prepare a trial balance dated May 31, 2014.
In SE6, Set up T accounts and record each transaction in SE5. Determine the balance of each account.
In SE5, Shawn Michael started a computer programming business, Michael’s Programming Service. For each transaction that follows, indicate which account is debited and which account is credited.
May 2 Shawn Michael invested $10,000.
5 Purchased a computer for $5,000 in cash.
7 Purchased supplies on credit for $600.
19 Received cash for programming services performed, $1,000.
22 Received cash for programming services to be performed, $1,200.
25 Paid the rent for May, $1,300.
31 Billed a customer for programming services performed, $500.