(Learning Objective 5: Recording transactions without a journal) Set up the following T-accounts: Cash, Accounts Receivable, Offi ce Supplies, Offi ce Furniture, Accounts Payable, Share Capital, 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.

a. Linda Oxford opened a law fi rm by investing $12,000 cash and offi ce furniture valued at $8,600. Organized as a corporation, the business issued ordinary shares to Oxford.

b. Paid monthly rent of $1,000.

c. Purchased offi ce supplies on account, $700.

d. Paid employees’ salaries of $2,000.

e. Paid $300 of the account payable created in Transaction c.

f. Performed legal service on account, $8,100.

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