Trial Balance Transactions Required: 5 Assets, 2 Liabilities, 2 Equity, 1 Revenue, and 5 Expense accounts Jan 1 Owner invested $10,000 and recorded ownership in the company 2 Company paid current month's rent $500 7 Purchased merchandise to sell to customers on account from vendor TicWick Products $3,000 8 Sold to customer Mary Jones merchandise on account $1,600; cost of merchandise was $1,000 10 Signed a contract with a new supplier 15 Paid advertising from checking $100 17 Purchased a new computer from checking $250 20 Mary Jones paid her account balance in full. Amount deposited to checking account. 22 Paid legal fees $200 23 Purchased store equipment on account from Ace Supply $1,000. 25 Paid utilities $140 28 Paid 3 months of insurance $300 for coverage beginning Feb 1. 31 Paid Ace Supply for amount owed
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