Gammon had the following transactions during $2022.$ All expenses were paid in cash, unless otherwise stated.

a$.$ Collected $$42,000$ of receivables.

b$.$ Accounts Payable as of January $1,2022,$ were paid off.

c$.$ Paid utilities of $$12,600.$

d$.$ Provided services for $$370,000,90\%$ for cash and $10\%$ for credit.

e$.$ Paid $$50,000$ mortgage payment, of which $$30,000$ represents interest expense.

f$.$ Paid salaries expense of $$120,000.$

g$.$ Paid installment of $$10,000$ on note.

Required:

Prepare journal entries to record each listed transaction. $($Omit explanations.$)$

Set up T$-$accounts with the proper account balances at January $1,2022,$ post the journal entries to the T$-$accounts, and prepare a trial balance for Gammon Corporation at December $31,2022.$

Interpretive Question: If the debit and credit columns of the trial balance are in balance, does this mean that no errors have been made in journalizing the transactions? Explain