Jayden Lanelle opens a computer consulting business called Viva Consultants and completes the following transactions in its first month of operations.

April 1 Lanelle invests $95,000 cash along with office equipment valued at $22,800 in the company in exchange for its common stock.

2 The company prepaid $7,200 cash for twelve months’ rent for office space. (Hint: Debit Prepaid Rent for $7,200.)

3 The company made credit purchases for $11,400 in office equipment and $2,280 in office supplies. Payment is due within 10 days.

6 The company completed services for a client and immediately received $2,000 cash.

9 The company completed a $7,600 project for a client, who must pay within 30 days.

13 The company paid $13,680 cash to settle the account payable created on April 3.

19 The company paid $6,000 cash for the premium on a 12-month insurance policy.

22 The company received $6,080 cash as partial payment for the work completed on April 9.

25 The company completed work for another client for $2,640 on credit.

28 The company paid $6,200 cash for dividends.

29 The company purchased $760 of additional office supplies on credit.

30 The company paid $700 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); Common Stock (307); Dividends (319); Services Revenue (403); 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 April 30.