62 CHAPTER Set B FIGURE 2.7 400 Co L23. The chart of accounts for Adler's Delivery Service is as follows t of Accounts Delivery Fees Eamed 43 Expenses Advertihing Expense 531 Gas Expense 532 Salaries Expense 53 Cash 113 AccoutS Receivable 112 Delivery Tscis 122 Lubaities Accounts Payable 211 elephone Expeme 534 Owner's lqulity Andrea Ade Adler's Delivery Service completed the following transactions during the month of July Andrea Adler invested $30,000 in the delivery service from her personal avings account. & Boughe delivery trucks on account, $14,000. C. Bought office equipment for cash, $1,500. D. Paid advertising expense, $500. t. Collected cash for delivery services rendered, $2,400. E Paid drivers' salaries, $900. G Paid gas expense for tracks, $1,100. M. Performed delivery services for a customer on account, $900. L Telephone expense due but unpaid, S100. . Received S600 as partial payment of transaction H Andrea withdrew cash for personal use, $250. As Andrea's newly hired accountant, you must perform the following: 1. Set up T accounts using the chart of accounts, Record transactions in the T accounts. (Place the letter of the transaction next to the entry.) 2. Foot the T accounts where appropriate and determine the ending balances 3. Prepare a trial halance at the end of July 4. Prepare from the trial balance, in proper form, (a) an income statement 347, 400 for the month of July, (b)a