Task:
1. Create journal entries for the following transactions.
2. Draw up a T-accounts for each account affected by transactions.
3. Calculate ending balances for all T-accounts.
Transactions:
March, 1: Student Corp. received fees earned from customers, $12,000.
March, 4: Purchased office equipment on account, $5,500.
March, 8: Purchased office supplies on account, $400.
March, 12: Paid office rent for February, $800.
March, 16: Received cash $4,500 from a customer as its rent payment.
March, 18: Paid utilities expense for the month of February, $320.
March, 22: Paid advertising expense, $780.
March 28: Paid creditors on account, $5500.