Using the information in Problem 2-1B, complete the following:

Problem 2.1B

Peeters Consulting completed these transactions during June 2017: 

June
2. Trevor Peeters, the sole proprietor, invested $46,000 cash and office equipment with a $24,000 fair value in the business.
4. Purchased land and a small office building. The land was worth $268,000 and the building was worth $66,000. The purchase price was paid with $30,000 cash and a long-term note payable for $304,000.
8. Transferred title of his personal automobile to the business. The automobile had a value of $7,000 and was to be used exclusively in the business.
10. Purchased $600 of office supplies on credit. 

14. Completed $2,400 of services for a client. This amount is to be paid within 30 days. 

18. Paid $1,800 salary to an assistant. 

22. Paid the account payable from the transaction on June 10. 

24. Purchased $4,000 of new office equipment by paying $2,400 cash and trading in old equipment with a recorded cost of $1,600. 

28. Received $1,000 payment on the receivable created from the transaction on June 14th. 

30. Withdrew $1,050 cash from the business for personal use.

Required
1. Set up the following general ledger accounts using T-accounts: Cash; Accounts Receivable; Office Supplies; Vehicle; Office Equipment; Building; Land; Accounts Payable; Long-Term Notes Payable; Trevor Peeters, Capital; Trevor Peeters, Withdrawals; Revenue; and Salaries Expense.
2. Post the journal entries into the T-accounts. Identify the date next to each posting. Determine the balance in each account.
3. Prove the accounting equation.