Business transactions completed by Hannah Venedict during the month of September are as follows.
a. Venedict invested $60,000 cash along with office equipment valued at $25,000 in a new business named HV Consulting.
b. The company purchased land valued at $40,000 and a building valued at $160,000. The purchase is paid with $30,000 cash and a note payable for $170,000.
c. The company purchased $2,000 of office supplies on credit.
d. Venedict invested an automobile in the company. The automobile has a value of $16,500.
e. The company purchased $5,600 of additional office equipment on credit.
f. The company paid $1,800 cash salary to an assistant.
g. The company provided services to a client and collected $8,000 cash.
h. The company paid $635 cash for this month’s utilities.
i. The company paid $2,000 cash to settle the account payable created in transaction c.
j. The company purchased $20,300 of new office equipment by paying $20,300 cash.
k. The company completed $6,250 of services on credit for a client, who must pay within 30 days.
l. The company paid $1,800 cash salary to an assistant.
m. The company received $4,000 cash in partial payment on the receivable created in transaction k.
n. Venedict withdrew $2,800 cash from the company for personal use.

Required

1. Prepare general journal entries to record these transactions (use account titles listed in part 2).

2. Open the following ledger accounts—their account numbers are in parentheses (use the balance column format): Cash (101); Accounts Receivable (106); Office Supplies (108); Office Equipment (163); Automobiles (164); Building (170); Land (172); Accounts Payable (201); Notes Payable (250); H. Venedict, Capital (301); H. Venedict, Withdrawals (302); Consulting Revenue (403); Salaries Expense (601); and Utilities Expense (602). Post the journal entries from part 1 to the ledger accounts and enter the balance after each posting.

3. Prepare a trial balance as of the end of September.