Udrid Oct. 1 Thomas started his law practice by contributing $21,500 cash to the business on October 1; he received common stock for his investment. 2 Purchased office equipment on account, $12,500. 3 Paid office rent for October, $BDO. 4 Paid $11,700 to access online legal database for two years. 5 Billed clients for services rendered, $11,400. 6 Made $6,100 payment on account for the equipment purchased on October 2. 7 Paid legal assistant's salary, $2,900. 8 Collected $9,500 from clients previously billed for services 9 Received invoice for October utilities, $280, it will be paid in November 10 The firm paid stockholders $2,100 cash as a dividend, Note: Use a negative sign with your answers below, when appropriate Accounting Equation Journal Entries T-Accounts Trial Balance Cash + Accounts Receivable + Database Subscription - Office Equipment - Accounts Payable + Common Stock + Retained Earnings $ $ $ 2 3 4 5 6 7 8 9 10 $ + $ + 5