Problem 2-3A Preparing and posting journal entries; preparing a trial balance LO C3, C4, A1, P1, P2 Denzel Brooks opened a Web consulting business called Venture Consultants and completed the following transactions in March. March 1 Brooks invested $155,000 cash along with $30,000 in office equipment in the company. 2 The company prepaid $7,000 cash for six months' rent for an office. Hint Debit Prepaid Rent for $7,000. 3 The company made credit purchases of office equipment for $4,300 and office supplies for $1,800. Payment is due within 10 days. 6 The company completed services for a client and immediately received 3,000 cash. 9 The company completed a $10,700 project for a client, who must pay 30 days. 12 The company paid $6,100 cash to settle the account payable created on March 3. 19 The company paid $4,300 cash for the premiun on a 12-month insurance policy. Hint: Debit Prepaid Insurance for $4,300. 22 The company received $5,400 cash as partial payment for the work completed on March 9. 25 The company completed work for another client for $5,080 on credit. 29 Brooks withdrew $5,800 cash from the company for personal use. 30 The company purchased $1,600 of additional office supplies on credit. 31 The company paid $700 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 (2017: D. Brooks, Capital (301); D. Brooks, Withdrawals (302); 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