Roberto Ricci opens a computer consulting business called Viva Consultants and completes the following transactions in its first month of operations:

April 1 Ricci invests \($100,000\) cash along with office equipment valued at \($24,000\) in the business.

2 Prepaid \($7,200\) cash for twelve months’ rent for office space. (Hint: Debit Prepaid Rent for \($7,200.)

3\) Made credit purchases for \($12,000\) in office equipment and \($2,400\) in office supplies. Payment is due within 10 days.

6 Completed services for a client and immediately received \($2,000\) cash.

9 Completed an \($8,000\) project for a client, who must pay within 30 days.

13 Paid \($14,400\) cash to settle the account payable created on April 3.

19 Paid \($6,000\) cash for the premium on a 12-month insurance policy. (Hint: Debit Prepaid Insurance for \($6,000.)

22\) Received \($6,400\) cash as partial payment for the work completed on April 9.

25 Completed work for another client for \($2,640\) on credit.

28 Ricci withdrew \($6,200\) cash for personal use.

29 Purchased \($800\) of additional office supplies on credit.

30 Paid \($700\) cash for this month’s utility bill.

Required

1. Prepare general journal entries to record these transactions (use account titles listed in part 2).
2. Open the following ledger accounts—their account numbers are in parentheses (use the balance column format): Cash (101); Accounts Receivable (106); Office Supplies (124); Prepaid Insurance (128); Prepaid Rent (131); Office Equipment (163); Accounts Payable (201); R. Ricci, Capital (301); R. Ricci, Withdrawals (302); Services Revenue (403); and Utilities Expense (690). Post journal entries from part 1 to the ledger accounts and enter the balance after each posting.
3. Prepare a trial balance as of the end of this month’s operations.