P2-304 Journalizing tr preparing a trial balance ansactions, posting journal entries to T-accounts, and Ann Simpson started her practice as a design consultant on During the first month of operations, the business completed the following September 1,2018. 4. Total Debits $58,300 transactions: Sep. 1 Received $48,000 cash and gave capital to Simpson. 4 Purchased office supplies, $1,200, and furniture, $1,300, on account. 6 Performed services for a law firm and received $1,900 cash. 7 Paid $18,000 cash to acquire land to be used in operations 10 Performed services for a hotel and received its promise to pay the $1,200 within one week. 14 Paid for the furniture purchased on September 4 on account. 15 Paid assistant's semimonthly salary, $1,500. 17 Received cash on account, $1,000 20 Prepared a design for a school on account, $650. 25 Received $2,100 cash 28 Received $2,900 cash for consulting with Plummer &Gordon. 29 Paid $600 cash for a 12-month insurance policy starting on October 1 30 Paid assistant's semimonthly salary, $1,500. 30 Paid monthly rent expense, $600. 30 Received a bill for utilities, $350. The bill will be paid next month. 30 Simpson withdrew cash of $3,700. for design services to be performed in October. Requirements 1. Record each transaction in the journal using the following account titles: Cash; Accounts Receivable; Office Supplies; Prepaid Insurance; Land; Furniture Accounts Payable; Utilities Payable; Unearned Revenue; Simpson, Capital; Simpson, Withdrawals; Service Revenue; Salaries Expense; Rent Expense; and Utilities Expense. Explanations are not required. . Open a T-account for cach of the accounts. Post the journal entries to the T-accounts, using transaction dates as posting references in the ledger accounts. Label the balance of each account Bal Prepare the trial balance of Ann Simpson, Designer, as of September 30, 2018