Julia Dumars is a licensed CPA. During the first month of operations of her business, Larkspur, Inc., the following events and transactions occurred. May 1 Stockholders invested $21,700 cash in exchange for common stock. 2 Hired a secretary-receptionist at a salary of $1,100 per month. 3 Purchased $2,300 of supplies on account from Vincent Supply Company. 7 Paid office rent of $900 cash for the month. 11 Completed a tax assignment and billed client $2,500 for services performed. 12 Received $3,200 advance on a management consulting engagement. 17 Received cash of $1,800 for services performed for Orville Co. 31 Paid secretary-receptionist $1,100 salary for the month. 31 Paid 50% of balance due Vincent Supply Company. Julia uses the following chart of accounts: No. 101 Cash, No. 112 Accounts Receivable, No. 126 Supplies, No. 201 Accounts Payable, No. 209 Unearned Service Revenue, No. 311 Common Stock, No. 400 Service Revenue, No. 726 Salaries and Wages Expense, and No. 729 Rent Expense. \begin{tabular}{|c|c|c|c|} \hline Date & Account Titles and Explanation & Debit & Credit \\ \hline \multirow[t]{2}{*}{ May 1 } & Cash & 21700 & \\ \hline & Common Stock & & \\ \hline \multirow{2}{*}{ May 2} & No Entry & & \\ \hline & No Entry & & \\ \hline \multirow[t]{2}{*}{ May 3 } & Supplies & & \\ \hline & Accounts Payable & & 2300 \\ \hline \multirow[t]{2}{*}{ May 7} & Rent Expense & 900 & \\ \hline & Cash & & 900 \\ \hline \multirow[t]{2}{*}{ May 11} & Accounts Receivable & 2500 & \\ \hline & Service Revenue & & 2500 \\ \hline May 12 & Cash & 3200 & \\ \hline \end{tabular} May 17 Cash Service Revenue 1800 May 31 Salaries and Wages Expense 1100 Cash 1100 \begin{tabular}{r} \hline 1800 \\ \hline \\ \hline \\ \hline 1100 \\ \hline \end{tabular} (Paid salaries) May 31 Accounts Payable 1150 Cash \begin{tabular}{|r|} \hline \\ \hline \\ \hline \end{tabular} \begin{tabular}{|} \hline \\ \\ \\ \hline \end{tabular} (Paid creditor on account) Cash No. 101 \begin{tabular}{|c|c|c|c|c|c|} \hline Date & Explanation & Ref. & Debit & Credit & Balance \\ \hline May 1 & & J1 & 21700 & & 21700 \\ \hline May 7 & & J1 & & 900 & 20800 \\ \hline May 12 & & J1 & 3200 & & 24000 \\ \hline May 17 & & J1 & 1800 & & 25800 \\ \hline May 31 & & J1 & & 1100 & 24700 \\ \hline May 31 & & J1 & & 1150 & 23550 \\ \hline \multicolumn{4}{|c|}{ Accounts Receivable } & & No. 112 \\ \hline Date & Explanation & Ref & Debit & Credit & Balance \\ \hline May 11 & & J1 & 2500 & & 2500 \\ \hline \end{tabular} \begin{tabular}{|c|c|c|c|c|c|} \hline \multicolumn{4}{|c|}{ Supplies : } & \multirow[b]{2}{*}{ Credit } & No, 126 \\ \hline Date & Explanation & Ref. & Debit & & Balance \\ \hline May 3 & & J1 & 2300 & & 2300 \\ \hline \multicolumn{4}{|c|}{ Accounts Payable } & & No. 201 \\ \hline Date & Explanation & Ref. & Debit & Credit & Balance \\ \hline May 3 & & J1 & & & 2300 \\ \hline May 31 & & J1 & 1150 & & 1150 \\ \hline \multicolumn{4}{|c|}{ Unearned Service Revenue } & & No. 209 \\ \hline Date & Explanation & Ref. & Debit & Credit & Balance \\ \hline May 12 & & J1 & & & 3200 \\ \hline \multicolumn{4}{|c|}{ Common Stock } & & No. 311 \\ \hline Date & Explanation & Ref. & Debit & Credit & Balance \\ \hline May 1 & & J1 & & & 21700 \\ \hline \end{tabular} Larkspur; Inc. Trial balance Debit Credit $