Alphabet Inc. (Google) experienced the following in September 2024:

• September 2: Acquired a patent for $150,000 in cash.
• September 8: Purchased office supplies for $2,500 on account.
• September 15: Paid $12,000 for a 6-month insurance policy.
• September 22: Performed services worth $50,000, payment received in cash.
• September 30: Paid $1,200 for utilities.

Requirements:

1. Prepare journal entries for each transaction.
2. Post the journal entries to the respective ledger accounts.
3. Prepare a trial balance as of September 30, 2024.
4. Adjust the prepaid insurance account for one month.
5. Calculate the net income for September 2024.