2. Task: 1. Create journal entries for the following transactions, 2. Draw up a T-account for each account affected by transactions; 3. Calculate normal balances for all T-accounts. 4. Prepare an unadjusted trial balance. Transactions: March, 1: The owner invests $80,000 cash into business; March, 2: Student Co. received fees earned from customers, $ 32,000; March, 4: Purchased office equipment on credit, $50,000; March, 5: Paid creditors on account, $5,500; March, 7: Paid advertising expense, $5,000; March, 8: Services provided on account, $23,000; March, 10: Paid creditors or/account, $20,000; March, 14: Purchased office supplies on account, $1,500; March, 15: Purchased land for a future building site, $76,000; March, 16: Received a bill for rent, $15,500; March, 17: Received cash $4,100 from a customer for interest earned; March, 19: The owner withdraws $3,000 from the business; March, 20: Took a loan in the bank by signing note payable, $40,000; March, 27: Paid salaries, $23,900. March, 30: Paid utilities expense for the month of March, $2,700; March Received $10,000 on account from customers. Journal Description Date Post. Ref. Debit Credit Ledger Add more T-accounts if needed. Student Co. Unadjusted Trial Balance March 30, 2020 Debit Balances Credit Balances