P2-7A Aduke Zhawaki is a talented musician who ru og music and playing in gigs lournalize transactions. with a variety of other musicians. Her business is operated as a proprietorship, under the name A to 7 post, and prepare trial Music, which has a December 31 year end. On November 30, 2014, the company's general ledger in- balance, (SO 2, 3) AP cluded the following accounts (all accounts have normal balances): December transactions were as follows: Dec. 1 Paid December rent on her studio space, $475 . 1 Yurchased additional sound equipment for $3 , 500 from a friend who was going back to school to study accounting. The equipment was probably worth $5 , 000 , but the friend needed the cash for tuition and was anxious to sell it. Paid $1 , 500 cash and promised to pay the remaining amount by December 5 . 3. Borrowed $2 , 500 cash from her parents and signed a note payable. 4 Paid her friend the remaining amount owing on the December t transaction. 4 Collected $1 , 800 from customers in payment of their accounts. 7 Paid the $310 monthly insurance premium. 8 Paid for $150 of supplies. 10 Paid $2 , 130 of the accounts payable from November. 15 Gave musical performances at two recitals and earned $825 . The customers had paid her in November: (Hint: In November Aduke had recorded the $825 received in advance as a liability. Unearned Revenue. By performing at the recitals, she has "paid" this obligation.) 20 Received $3 , 300 cash from students for music lessons provided in December. 21 Paid her monthly telephone bill of $135 . 22 Billed customers $2 , 250 for providing music at several holiday partiec. 24. Withdrew $3 , 000 for personal use. 29 Received $525 cash advance from a customer for a performance in January. 30 Paid travel expenses of $695 for December in cash. 31 Paid her parents $210 . Of this amount, $10 is interest and the remainder is a principal payment on the note payable. Instructions (a) Enter the November 30 balances in ledger accounts. Use T accounts. (b) Journalize the December transactions. (c) Post the December journal entries to the T accounts. Add new accounts if needed. (d) Prepare a trial balance at December 31, 2014..

1. P2-7A Aduke Zhawaki is a talented musician who ru og music and playing in gigs lournalize
transactions. with a variety of other musicians. Her business is operated as a proprietorship,
under the name A to 7 post, and prepare trial Music, which has a December 31 year end. On
November 30, 2014, the company's general ledger in- balance, (SO 2, 3) AP cluded the
following accounts (all accounts have normal balances): December transactions were as follows:
Dec. 1 Paid December rent on her studio space, $475 . 1 Yurchased additional sound equipment
for $3 , 500 from a friend who was going back to school to study accounting. The equipment was
probably worth $5 , 000 , but the friend needed the cash for tuition and was anxious to sell it.
Paid $1 , 500 cash and promised to pay the remaining amount by December 5 . 3. Borrowed $2 ,
500 cash from her parents and signed a note payable. 4 Paid her friend the remaining amount
owing on the December t transaction. 4 Collected $1 , 800 from customers in payment of their
accounts. 7 Paid the $310 monthly insurance premium. 8 Paid for $150 of supplies. 10 Paid $2 ,
130 of the accounts payable from November. 15 Gave musical performances at two recitals and
earned $825 . The customers had paid her in November: (Hint: In November Aduke had
recorded the $825 received in advance as a liability. Unearned Revenue. By performing at the
recitals, she has "paid" this obligation.) 20 Received $3 , 300 cash from students for music
lessons provided in December. 21 Paid her monthly telephone bill of $135 . 22 Billed customers
$2 , 250 for providing music at several holiday partiec. 24. Withdrew $3 , 000 for personal use.
29 Received $525 cash advance from a customer for a performance in January. 30 Paid travel
expenses of $695 for December in cash. 31 Paid her parents $210 . Of this amount, $10 is
interest and the remainder is a principal payment on the note payable. Instructions (a) Enter the
November 30 balances in ledger accounts. Use T accounts. (b) Journalize the December
transactions. (c) Post the December journal entries to the T accounts. Add new accounts if
needed. (d) Prepare a trial balance at December 31, 2014.