w Hatory Bookmarks Profes Tab Window Help Chapter 3 HW Problems Chapter 3 Homework Problems Problem 1-Recording transactions in the general journal, posting to ledger accounts and preparing a trial balance. The following transactions occurred during March, the first month of operations for the Fitness Center, opened by Maria Sanchez. Maria plans to offer fitness classes for a set fee to business clients on account and personal training to individuals for cash. 2 Maria invested $20,000 cash to start the business 5 7 Paid $3,000 for the monthly building rent. Purchased on account, equipment costing $10,000, due in 20 days. 11 Cash services performed for the week amounted to $1,000. 12 Billed business clients $2,000 for fitness classes. Payment due in 10 days. 15 Paid $1,500 of salaries to employees for the first half of the month. =2& 18 20 22 25 26 27 30 31 Cash services performed for the week amounted to $1,200. Paid a $800 utility bill. Received cash (full payment) from the client billed on the 12% Cash services performed for the week amounted to $1,300 Billed business clients $3,000 for fitness classes. Payment due in 10 days. Paid for the equipment purchased on the 7th Maria withdrew $3,000 cash from the business. Paid $2,000 of salaries to employees for the second half of the month. Maria has created the following accounts for the Fitness Center's chart of accounts Chart of Accounts-Account Number and Title 101-Cash; 111-Accounts Receivable; 131-Equipment, 201-Accounts Payable; 301-Sanchez, Capital 302-Sancher, Drawing 401-Fitness Class Fees; 402-Personal Training Fees; 505-Rent Expense 507-Salary Expense, 509-Ubility Expense Required: 1. Record the transaction in the general journal 2. Post the transaction to the ledger 3. Prepare a trial balance. 20