Reference no: EM132584919

During October 2016, Paws Veterinary Clinic completed the following transactions

Oct. 1

Paws received $30,000 cash and issued common shares to shareholders

Oct. 4

Purchased suppliers, $1,000 and equipment $2,600 on account

Oct. 5

Performed checkup services and received cash $1,500

Oct. 7

Paid cash to acquire land for an office site $22,000

Oct. 11

Performed a surgery on a sick, cat and billed the customer $500

Oct. 16

Paid for the equipment, purchased Oct 4 on account

Oct. 17

Paid the telephone bill $95

Oct. 18

Received partial payment from client on account $25

Oct. 22

Paid the water and electricity bills $400

Oct. 29

Received $2,000 cash for conducting a workshop on "Healthy Cat Living"

Oct. 31

Paid employee salary $1,300

Oct. 31

Declared and paid dividends of $1,500

Question 1. Record each transaction in the journal, Key each transaction by date. Explanations are not required.

Question 2. Prepare the trial balance of Paws at October 31, 2016.