The following T-accounts summarize the operations of Chen Construction Company for July 2019.

Required:
1. Assuming that only one transaction occurred on each day (beginning on July 2) and that no dividends were paid, describe the transactions that most likely took place.
2. Prepare a trial balance at July 31, 2019.

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Stockholders' Equity Liabilities Assets Common Stock Cash Accounts Payable | 4,000 7/1 1,000 7/2 7/1 1,000 150 7/5 200 1,100 7/1 7/5 150 250 7/4 7/2 7/7 7/11 2,500 700 7/9 150 750 7/14 Retained Earnings 250 7/1 7/14 750 2,500 7/7 Accounts Receivable 7/1 1,400 150 7/11 Supplies 7/1 7/4 750 250 Land 7/1 3,000 7/9 700