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Denzel Brooks opened a Web consulting business called Venture Consultants and completes the following transactions in March March 1 Brooks invested $175,000 cash along with $26,000 n office equipment in the company in exchange for common stock. 2 The company prepaid $6,000 cash for six months rent for an office. (Hint: Debit Prepaid Rent for $6,000.) 3 The company made credit purchases of office equipment for $3,800 and office supplies for $2,200. Payment is due within 10 days. 6 The company completed services for a client and immediately received $4,500 cash 9 The company completed a $10,900 project for a client, who must pay within 30 days. 12 The company paid $6,e00 cash to settle the account payable created on March 3 19 The company paid $6,400 cash for the premium on a 12-month insurance policy. (Hint: Debit Prepaid Insurance for $6,400.) 22 The company received $4,000 cash as partial payment for the work completed on March 9 25 The company completed work for another client for $5,330 on credit 29 The company paid $5,400 cash in dividends 30 The company purchased $1,700 of additional office supplies on credit. 31 The company paid $1,400 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 101: Cash 106: Accounts Receivable Date Debit Credit Balance Date Debit Credit Balance 124: Office Supplies Debit 128: Prepaid Insurance Date Credit Balance Date Debit Credit Balance 131: Prepaid Rent Debit 163: Office Equipment Debit Date Credit Balance Date Credit Balance 201: Accounts Payable Debit 307: Common Stock Date Credit Balance Date Debit Credit Balance 319: Dividends 403: Services Revenue Date Debit Credit Balance Date Debit Credit Balance 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. Complete this question by entering your answers in the tabs below. Required 1 Required 2Required3 Prepare a trial balance as of the end of March. VENTURE CONSULTANTS Trial Balance March 31 Debit Credit Totals Required 2 Required 3

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