Ch 02 Homework Saves 7 Problem 2-3A Preparing and posting Journal entries; preparing a trial balance LO C3, C4, A1, P1, P2 148 points Denzel Brooks opened a Web consulting business called Venture Consultants and completed the following transactions in March. 01:42:50 Skipped March 1 Brooks invested $155, eee cash along with $28,6ee in office equipment in the company in exchange for common stock. 2 The company prepaid $7,888 cash for six months' rent for an office. Hint: Debit Prepaid Rent for $7,88e. 3 The company made credit purchases of office equipment for $3,289 and office supplies for $2,300. Payment is due within 10 days. 6 The company completed services for a client and immediately received $4,888 cash. 9 The company completed a $8,889 project for a client, who must pay within 30 days. 12 The company paid $5,5ee cash to settle the account payable created on March 3. 19 The company paid $7,480 cash for the premium on a 12-month insurance policy. Hint: Debit Prepaid Insurance for $7,488. 22 The company received $4,2ee cash as partial payment for the work completed on March 9. 25 The company completed work for another client for $4,888 on credit. 29 The company paid a $4,500 cash dividend. 30 The company purchased $1,988 of additional office supplies on credit. 31 The company paid $600 cash for this month's utility bill. ebook Required: 1. Prepare general Journal entries to record these transactions using the following titles: Cash (101): Accounts Recelvable (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). 2. Post the journal entries from part 1 to the ledger accounts. 3. Prepare a trial balance as of the end of March References Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Prepare general journal entries to record these transactions using the following titles: 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). View transaction lat Journal entry worksheet A 8. 12. > Brooks invested $155,000 cash along with $28,000 in office equipment in the company in exchange for common stock Note: Enter debits before credits Date General Journal Debit Credit Mar 01 Record entry Clear entry View general Journal Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Post the journal entries from part 1 to the ledger accounts. 101: Cash Debit Credit 106: Accounts Receivable Debit Credit Date Balance Date Balance 124: Office Supplies Debit Credit 128: Prepaid Insurance Debit Credit Date Balance Date Balance 131: Prepaid Rent Debit Credit 163: Office Equipment Debit Credit Date Balance Date Balance 201: Accounts Payable Debit Credit 307: Common Stock Debit Credit Date Balance Date Balance 319: Dividends Debit Credit 403: Services Revenue Debit Credit Date Balance Date Balance 690: Utilities Expense Debit Credit Date Balance Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Prepare a trial balance as of the end of March. VENTURE CONSULTANTS Trial Balance March 31 Debit Credit Totals $ 0 $