Trixie Maye started her own consulting firm, Matrix Consulting, on May 1, 2017. The following
transactions occurred during the month of May.
May 1: Trixie invested $7,000 cash in the business.
2: Paid $900 for office rent for the month.
3: Purchased $600 of supplies on account.
5: Paid $125 to advertise in the County News.
9: Received $4,000 cash for services performed.
12: Withdrew $1,000 cash for personal use.
15: Performed $5,400 of services on account.
17: Paid $2,500 for employee salaries.
20: Paid for the supplies purchased on account on May 3.
23: Received a cash payment of $4,000 for services performed on account on May 15.
26: Borrowed $5,000 from the bank on a note payable.
29: Purchased equipment for $4,200 on account.
30: Paid $275 for utilities.
Instructions
(a) Journalize the transactions.
(b) Post to the ledger accounts.
(c) Prepare a trial balance on May 31, 2020.