Humble Management Services opens for business and completes these transactions in September.

Sept. 1 Henry Humble, the owner, invests $38,000 cash along with office equipment valued at $15,000 in the company.

2 The company prepaid $9,000 cash for 12 months’ rent for office space. (Debit Prepaid Rent for $9,000.)

4 The company made credit purchases for $8,000 in office equipment and $2,400 in office supplies. Payment is due within 10 days.

8 The company completed work for a client and immediately received $3,280 cash.

12 The company completed a $15,400 project for a client, who must pay within 30 days.

13 The company paid $10,400 cash to settle the payable created on September 4.

19 The company paid $1,900 cash for the premium on an 18-month insurance policy. (Debit Prepaid Insurance for $1,900.)

22 The company received $7,700 cash as partial payment for the work completed on September 12.

24 The company completed work for another client for $2,100 on credit.

28 Henry Humble withdrew $5,300 cash from the company for personal use.

29 The company purchased $550 of additional office supplies on credit.

30 The company paid $860 cash for this month’s utility bill.

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 (124); Prepaid Insurance (128); Prepaid Rent (131); Office Equipment (163); Accounts Payable (201); H. Humble, Capital (301); H. Humble, Withdrawals (302); Service Fees Earned (401); and Utilities Expense (690). Post 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.