Listed Below Are the Transactions for August 2014, the First

Essay

Listed below are the transactions for August 2014, the first month of operations of Peggy's' Pet Grooming, owned and operated by Peggy Markham.
August 1 Peggy invested $5,000 in the business, which was comprised of $3,500 in cash plus equipment valued at $1,500.
August 3 Paid rent of $400 for one month's rent.
August 3 Hired a salesperson who will be paid on commission.
August 4 Purchases supplies on account for $125.
August 12 Purchased a used van for $6,000, paying cash of $1,000 and signing an 1 year, 6% note payable for the balance.
August 15 Completed services for clients. Of the services completed, $350 was paid in cash, and the remainder, $500 was on account.
August 18 Paid telephone expense of $60.
August 26 Received a utility bill for August of $110.
August 27 Collected $250 of the accounts receivable balance.
August 29 Billed clients for $400 in services.
August 30 Paid an assistant $225 in wages.
August 30 Peggy Markham withdrew $500 for personal use.
Instructions
a. Journalize the transactions.
b. Prepare a trial balance at August 31, 2014. Hint: You may want to use T accounts.