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1. Prepare journal entries for the daily transactions

2. Post entries to the ledger accounts

3. Prepare a Trial Balance for July 31, 2020

Assets			Revenue
111	Cash		411	Fees Earned
112	Accounts Receivable		Expenses
114	Prepaid Rent		511	Advertising Expense
121	Supplies		515	Electrical Expense
131	Equipment		521	Salaries Expense
			531	Telephone Expense
Liabilities
211	Accounts Payable
Owner Equity
311	B. Baldwin, Capital
321	B. Baldwin, Withdrawals

The transactions below were completed for the month of July.

2020

July 2 Bob Baldwin invested $16,200 cash in his business.

3 Paid three months rent in advance, $1,650.

4 Purchased supplies on account from Marlin Supplies, $640

7 Purchased equipment on account from Brinkley Company, $8,300

8 Received $2,100 cash for fitness training program provided to customer

11 Billed Short Company for lessons provided, $1,400

14 Bob withdrew $759 from the studio to buy a new stereo for his home.

15 Paid salaries expense, $1,350

28 Paid telephone bill for studio, $160

29 Electricity bill was received but not yet paid, $150

31 Advertising bill was received from Northumberland News but not yet paid, $325

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