Problem 2-3A (Static) 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 $150,000 cash along with $22,000 in office equipanent in the conpany in exchange for connon stock. March 2 The company prepaid $6,000 cash for six nonths' rent for an office. Hint: Debit Prepaid Rent for $6,000. March 3 The company nade credit purchases of office equipnent for $3,000 and office supplies for $1,2e9. Paynent is due within 10 days. Narch 6 The conpany completed services for a client and innediately received $4,000 cash. March 9 The company completed a 57,500 project on credit for a client, who must pay within 3e days. March 12 The company paid $4,200 cash to settle the account payable created on March 3. March 19 The company paid $5,600 cash for the preniun on a 12-month insurance policy. Hint? Debit Prepaid Insurance for $5,ee. March 22 The conpany received $3,560 cash as partial payment for the work conpleted on March 9. March 25 The conpany completed work for another client for $3,820 on credit. March 29 The company paid a $5,106 cash dividend. March 36 The company purchased $6e6 of additional office supplies on credit. March 31 The conpany paid. $50e cash for this nonth's utility bitl. 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. Complete this question by entering your answers in the tabs below. Prepare general journal entries to record these transactions using the following tities: Cash (101); Accounts Recelvable (106): Office Supplies (124); Prepaid Insurance (128); Prepaid Rent (131); Orfice Cquipment (163); Accounts Payable (201); Common Stock (307); Dividends (319); Services Revenue (403); and Utilities Expense (690). Prepare general joumal 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). 1 Brooks invested $150,000 cash along with $22,000 in office equipment in the company in exchange for common stock. 2 The company prepaid $6,000 cash for six months' rent for an office. 3 The company made credit purchases of office equipment for $3,000 and office supplies for $1,200. Payment is due within 10 days. ot in the 4. The company completed services for a client and immediately received $4,000 cash. 5 The company completed a $7,500 project on credit for a client, who must pay within 30 days. Note : = journal entry has been entered 6 The company paid $4,200 cash to settle the account payable created on March 3. 7 The company paid $5,000 cash for the premium on a 12 month insurance policy. 8 The company received $3,500 cash as partial payment for the work completed on March 9. 9 The company completed work for another client for $3,820 on credit. 10 The company paid a $5,100 cash dividend. 11 The company purchased $600 of additional office supplies Note: = journal entry has been entered 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). Journal entry worksheet 234567812> Brooks invested $150,000 cash along with $22,000 in office equipment in the company in exchange for common stock. Note: Enter debits before credits