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Erin Murdoch, an architect, organized Modern Architects as a proprietorship on January 1, 20Y4. During the month, Modern Architects completed the following transactions: a. Erin Murdoch opened a bank account in the name of the business, $50,000. b. Paid January rent for office and workroom, $3,000. c. Purchased used automobile for $30,000, paying $7,500 cash and giving a note payable for the remainder. d. Purchased office and computer equipment on account, $9,500. e. Paid cash for supplies, $1,800. f. Paid cash for annual insurance policies, $3,600. g. Received cash from client for plans delivered, $10,500. h. Paid cash for miscellaneous expenses, $1,500. i. Paid cash to creditors on account, $5,000. j. Paid installment due on note payable, $750. k. Received invoice for blueprint service, due in February, $5,500. I. Recorded fees earned on plans delivered, payment to be received in February, $22,350. m. Paid salary of assistants, $8,000. n. Paid gas, oil, and repairs on automobile for January, $550. Automobile Expense Miscellaneous Expense 3. Prepare an unadjusted trial balance for Modern Architects as of January 31, 20Y4. List all accounts in the order of Assets, Liabilities, Owner's equity, Revenues, and Expenses. If an amount box does not require an entry, leave it blank. Modern Architects January 31,20y4 Account Debit Balances Credit Balances 4. Determine the net income or net loss for January

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