Reference no: EM131911489

During the first month of operations (March 20X6), Silver Entertainment Corporation completed the following selected transactions:

1. The business received cash of €32,000 and a building valued at €52,000. The corpora- tion issued ordinary shares to the shareholders.
2. Borrowed €35,800 from the bank; signed a note payable.
3. Paid €32,000 for music equipment.
4. Purchased supplies on account, €200.
5. Paid employees' salaries, €2,300.
6. Received €1,700 for music service performed for customers.
7. Performed service for customers on account, €2,800.
8. Paid €100 of the account payable created in Transaction d.
9. Received a €900 bill for advertising expense that will be paid in the near future.
10. Received cash on account, €1,600.
11. Paid the following cash expenses: (1) rent, €1,200; (2) advertising, €800.

Requirements

Record each transaction directly in the T-accounts without using a journal.

Use the letters to identify the transactions.

Prepare the trial balance of Silver Entertainment Corporation, at March 31, 20X6.