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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 equipment in the company in exchange for common stock.

March $2$ The company prepaid $$6,000$ cash for six months' rent for an office. Hint: Debit Prepaid Rent for $$6,000.$

March $3$ The company made credit purchases of office equipment for $$3,000$ and office supplies for $$1,200.$ Payment is due within $10$ days.

March $6$ The company completed services for a client and immediately received $$4,000$ cash.

March $9$ The company completed a $$7,500$ project on credit for a client, who must pay within $30$ days.

March $12$ The company paid $$4,200$ cash to settle the account payable created on March $3.$

March $19$ The company paid $$5,000$ cash for the premium on a $12-$month insurance policy. Hint: Debit Prepaid Insurance for $$5,000.$

March $22$ The company received $$3,500$ cash as partial payment for the work completed on March $9.$

March $25$ The company completed work for another client for $$3,820$ on credit.

March $29$ The company paid a $$5,100$ cash dividend.

March $30$ The company purchased $$600$ of additional office supplies on credit.

March $31$ The company paid $$500$ cash for this month's utility bill.

Required:

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 $(690).$

Post the journal entries from part $1$ to the ledger accounts.

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 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

$1$

$2$

$3$

$4$

$5$

$6$

$7$

$8q,12$

Brooks invested $$150,000$ cash along with $$22,000$ in office equipment in the company in exchange for common stock.

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