September TransactionsDateTransaction DescriptionSeptember 1Started a plumbing repair business by making a $100,000deposit in a company bank account, in exchange for 20,000shares of $5 par value common stock.September 1Purchased insurance for the year and paid $3,000 cash.September 2Paid monthly rent with $3:500 cash on a warehouse to storethe plumbing equipment.September 5Purchased plumbing equipment for $25,000, making a $5,000down payment and placing $20,000 on account.September 6Purchased supplies for $2,000 on account.September 7Paid $750 cash for advertising in local newspapers.September 10Received $15,000 in cash for plumbing services provided.September 12Paid $5,000 for plumbing equipment previously purchased onaccount on September 5th.September 15Provided plumbing services on account for $2,500.September 23Received $22,000 in cash for plumbing services provided.September 25Received $1,500 cash for plumbing services performed onaccount on September 15th.September 28Paid $500 cash for a utility bill.September 30Paid cash dividends of $1,000.September 30One month's insurance expired.September 30The inventory of supplies showed a balance of $1,200 onhand at the end of the month. Use the following account descriptions for journal entries.Chart of AccountsAccountAccount TypeNumberAccount TitleNormal BalanceAssets171CashDebit115Accounts ReceivableDebit117SuppliesDebit119Prepaid InsuranceDebit144EquipmentDebitLiabilities212Accounts PayableCreditStockholders Equity311Common StockCredit313DividendsDebitRevenue41 1Service RevenueCreditExpenses510Insurance ExpenseDebit511Rent ExpenseDebit512Advertising ExpenseDebit514Supplies ExpenseDebit517Utility ExpenseDebit REQUIREMENT #1: Prepare journal entries to record the September transactions in the GeneralJournal below. Remember that Debits must equal Credits-All of your Journal Entries shouldbalance.2General JournalAccountNumber from3Chart ofAccount Title from Chart of Accounts tabDebitCreditDateAccounts tab1011121415161718192021222324252627282930313233343536373839404142434445464748495051525354 REQUIREMENT #2: Post the September journal entries to the following T-Accounts and compute endingbalances.DateCash (111)DateService Revenue (411)Accounts Receivable (115)Insurance Expense (510)Supplies (117)Rent Expense (511)Prepaid Insurance (1 19)Advertising Expense (512)4042Equipment (144)Supplies Expense (514)4446Accounts Payable (212)Utility Expense (517)Common Stock (311)Dividends (313) REQUIREMENT #3: Prepare a trial balance for September in the space below.The Plumbing Repair CompanyTrial BalanceSeptember 30AccountAccountBalanceNumberTitleDebitCredit60 00101112w1415161718192021222324252627282930313233343536373839