Problem 2-3A (Algo) Preparing and posting journal entries; preparing a trial balance LO A1, P1 Denzel Brooks opened a Web consulting business called Venture Consultants and completed the following transactions in March. March 1 Brooks invested $170,000 cash along with $20,000 in office equipment in the company in exchange for common stock. March 2 The company prepaid $8,000 cash for six months' rent for an office. Hint: Debit Prepaid Rent for \$8,000. March 3 The company made credit purchases of office equipment for $4,800 and office supplies for $2,100. Payment is due within 10 days. March 6 The company completed services for a client and immediately received \$4,500 cash. March 9 The company completed a $12,400 project on credit for a client, who must pay within 30 days. March 12 The company paid $6,900 cash to settle the account payable created on March 3 . March 19 The company paid $5,500 cash for the premium on a 12-month insurance policy. Hint: Debit Prepaid Insurance for $5,500 March 22 The company received $4,800 cash as partial payment for the work completed on March 9. March 25 The company completed work for another client for $4,660 on credit. March 29 The company paid a $6,100 cash dividend. March 30 The company purchased $1,100 of additional office supplies on credit. March 31 The company paid $600 cash for this month's utility bill. Required: 1. 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). 2. Post the journal entries from part 1 to the ledger accounts. 3. Prepare a trial balance as of the end of March