Herman and Sons’ Law Offices opened on January 1, 2022. During the first year of business, the company had the following transactions:• January 2: The owners invested $250,000 (the par value of the stock) into the business and acquired 25,000 shares of common stock in return.• January 15: Herman bought an office building in the amount of $80,000. The company took out a long term note from the bank to finance the purchase.• February 12: Herman billed clients for $60,000 of services performed.• March 1: Herman took out a two-year insurance policy, which it paid cash for in the amount of $22,000.• March 10: Herman collected $20,000 from clients toward the outstanding accounts receivable balance.• May 13: Herman received cash payments totaling $210,000 for legal services—$40,000 was for services previously billed to customers on February 12 and the remainder was for services provided in May not yet recorded.• June 10: Herman purchased office supplies in the amount of $35,000, all on credit.• July 15: Herman paid wages of $16,000 in cash to office staff workers.• August 8: Herman paid off the $35,000 balance owed to a supplier for the purchase made on June 10.• September 3: Herman purchased $25,000 of office supplies in cash.• September 20: The company paid $11,000 cash for utilities.• October 1: Herman paid wages in the amount of $24,000 to office workers.• December 1: Herman received cash payments from clients in the amount of $320,000 for services to be performed in the upcoming months.• December 31: Herman declared and paid a $10,000 dividend.

The chart of accounts used by Herman and Sons’ Law Offices is as follows:

Required

a. Journalize the transactions for the year. Omit explanations.

b. Post the journal entries to the general ledger.

c. Prepare an unadjusted trial balance as of December 31.

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Group 100: Assets Chart of Accounts Account # 101 102 103 104 110 112 Account Title Cash Accounts Receivable Office Supplies Prepaid Insurance Building Accumulated Depreciation Building