A B C D E F G H J K L M N 1 The construction company Davis & Associates uses the accounts listed below. 2 Set up T accounts for each of the accounts listed and record the balances as of December 1, 20X1 on the normal balance side of the accounts. 3 4 5 Cash $ 32,000 Jim Davis, Capital $ 55,220 6 Accounts receivable $ 15,420 7 Supplies Jim Davis, Drawing -0- $ 1,200 Fees income -0- 8 Equipment 9 Accounts payable $ $ 10,100 3,500 Utilities expense -0- Salaries expense -0- 10 11 12 13 The company has the following transactions during the month of December 20X1. Record the effects of these transactions in the T accounts. 14 15 16 a. Paid $1,800 for monthly utilities. 17 b. Collected $4,850 in cash from credit customers. 18 c. Performed services for $8,400 on credit. 19 d. Paid $3,800 for salaries. 20 e. Paid a balance due to a creditor in the amount of 2,400. 21 f. Performed services for $6,450 in cash. 22 g. Purchased office equipment for $2,400 on credit. 23 h. The owner withdrew $1,500 in cash for personal expenses. Edit T Accounts Problem 1 +