Jerome Smith, Certified Public Accountant, operates as a professional corporation (P.C.). The business completed these transactions during the first part of March, 2010:
Mar 2 Received $7,000 cash from Smith, and issued common stock to him.
2 Paid monthly office rent, $600.
3 Paid cash for a Dell computer, $2,400, with the computer expected to remain in service for five years.
4 Purchased office furniture on account, $7,500, with the furniture projected to last for five years.
5 Purchased supplies on account, $500.
9 Performed tax service for a client and received cash for the full amount of $1,200.
12 Paid utility expenses, $300.
18 Performed consulting service for a client on account, $2,100.

Requirements
1. Journalize the transactions. Explanations are not required.
2. Post to the T-accounts. Key all items by date and denote an account balance on March 18, 2010, as Bal.
3. Prepare a trial balance at March 18, 2010. In the Serial Exercise of Chapter 3, we add transactions for the remainder of March and will require a trial balance at March 31.