Preparing and posting journal entries; preparing a trial balance Diella Management Services opens for business and completes these transactions in November.
Nov.

1 Cicely Diella, the owner, invested \($30,000\) cash along with \($15,000\) of office equipment in the business. Problem 3-1B 2 Prepaid \($4,500\) cash for six months’ rent for an office. Debit Prepaid Rent (an asset) for \($4,500.\) 

4 Made credit purchases of office equipment for \($2,500\) and of office supplies for \($600\). Payment is due within 10 days.
8 Completed work for a client and immediately received \($3,400\) cash.
12 Completed a \($10,200\) project for a client, who must pay within 30 days.
13 Paid \($3,100\) cash to settle the payable created on November 4.
19 Paid \($1,800\) cash for the premium on a 24-month insurance policy.
22 Received \($5,200\) cash as partial payment for the work completed on November 12.
24 Completed work for another client for \($1,750\) on credit.
28 Cicely Diella withdrew \($5,300\) cash for personal use.
29 Purchased \($249\) of additional office supplies on credit.
30 Paid \($831\) cash for this month’s utility bill.

Required 

1. Apply the debit-credit rules and explain how to record each transaction (use account titles listed in part 2).
2. Open the following T-accounts—Cash; Accounts Receivable; Office Supplies; Prepaid Insurance;
Prepaid Rent; Office Equipment; Accounts Payable; C. Diella, Capital; C. Diella, Withdrawals;
Services Revenue; and Utilities Expense. Record the transactions from part 1 in the T-accounts.
3. Prepare a trial balance as of the end of November.