Set up the following T-accounts: Cash, Accounts Receivable, Office Supplies, Office Furniture, Accounts Payable, Common Stock, Dividends, Service Revenue, Salary Expense, and Rent Expense. Record the following transactions directly in the T accounts without using a journal. Use the letters to identify the transactions. Determine the ending balance in each account.

a. Michael Dover opened a law firm by investing $23,500 cash and office furniture with a fair value of $8,600. Organized as a professional corporation, the business issued common stock to Dover.

b. Paid monthly rent of $1,100.

c. Purchased office supplies on account, $800.

d. Paid employee salaries of $2,800.

e. Paid $200 of the account payable created in transaction c.

f. Performed legal service on account, $10,700.

g. Declared and paid dividends of $2,900.