Mary Sunny,the sole stockholder,began business as Sunny Law Firm on November 1.Record the following November transactions by making entries directly to the T-accounts provided.Next,prepare a trial balance as of November 30.
a)Mary invested $15,000 cash and a law library valued at $6,000 in exchange for common stock.
b)Purchased $7,500 of office equipment from John Bronx on credit.
c)Completed legal work for a client and received $1,500 cash in full payment.
d)Paid John Bronx $3,500 cash in partial payment of the amount owed.
e)Completed $4,000 of legal work for a client on credit.
f)Paid $2,000 in cash dividends.
g)Received $2,500 cash as partial payment for the legal work completed for the client in (e).
h)Paid $2,500 cash for the secretary's salary.

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The Answer of Mary Sunny,the sole stockholder,began business as Sunny Law Firm on November 1.Record the following November transactions by making entries directly to the T-accounts provided.Next,prepare a trial balance as of November 30.
a)Mary invested $15,000 cash and a law library valued at $6,000 in exchange for common stock.
b)Purchased $7,500 of office equipment from John Bronx on credit.
c)Completed legal work for a client and received $1,500 cash in full payment.
d)Paid John Bronx $3,500 cash in partial payment of the amount owed.
e)Completed $4,000 of legal work for a client on credit.
f)Paid $2,000 in cash dividends.
g)Received $2,500 cash as partial payment for the legal work completed for the client in (e).
h)Paid $2,500 cash for the secretary's salary.

Mary Sunny,the Sole Stockholder,began Business as Sunny Law Firm on November