3. A1 Corp. was started on August 01, 2009. The following selected events and transactions occurred during August. August 01 Invested $50,000 cash in exchange for common stock August 02 Hired a sales manager at a salary of $2,500 per month August 05 Purchased $2,000 of supplies on account from B2 Corp. August 05 Paid office rent of $1,200 for the month August 10 Billed clients $1,500 for services rendered August 15 Received $5,000 advance for a construction contract August 20 Received cash of $3,000 for services completed August 26 Paid sales manager $2,500 salary for the month

A1 Corp. uses the following chart of accounts: No. 101 Cash; No. 112 Accounts Receivable; No. 126 Supplies; No. 201 Accounts Payable; No. 205 Unearned Revenue; No. 311 Common Stock; No. 400 Service Revenue, No. 726 Salaries expense and No. 729 Rent Expense.

Instructions: i. Journalize the transactions. ii. Post to the ledger accounts. iii. Prepare a trial balance on August 31,2009.