2 of 2 (0 complete) * More Info Jan. 1 Murphy contributed $78,000 cash to the business, Terrence Murphy, Attorney. The business issued common stock to Murphy. Purchased office supplies, $600, and furniture, $1,700, on account. Performed legal services for a client and received $1,000 cash. Purchased a building with a market value of $130,000, and land with a market value of $25,000. The business paid $25,000 cash and signed a note payable to the bank for the remaining amount. Prepared legal documents for a client on account, $400. Paid assistant's semimonthly salary, $1,120. Paid for the office supplies purchased on January 3 on account. Received $2,700 cash for helping a client sell real estate. Defended a client in court and billed the client for $1,800. Received a bill for utilities, $600. The bill will be paid next month. Received cash on account, $1,500. Paid $1,200 cash for a 12-month insurance policy starting on February 1. Print Print Done Done 2 of 2 (0 complete) HW Sco k/stati More Info Dened a la to view the actions Ents cord each Accounts ons are no epaid Ir Rent E ributed $7 Performed legal services for a client and received $1,000 cash. Purchased a building with a market value of $130,000, and land with a market value of $25,000. The business paid $25,000 cash and signed a note payable to the bank for the remaining amount. Prepared legal documents for a client on account, $400. Paid assistant's semimonthly salary, $1,120. Paid for the office supplies purchased on January 3 on account. Received $2,700 cash for helping a client sell real estate. Defended a client in court and billed the client for $1,800. Received a bill for utilities, $600. The bill will be paid next month. Received cash on account, $1,500. Paid $1,200 cash for a 12-month insurance policy starting on February 1. Paid assistant's semimonthly salary, $1,120. Paid monthly rent expense, $1,800. Paid cash dividends of $2,200. et or ente Print Done Check A 0 g tra * Requirements lies; pense ny. 1. Record each transaction in the journal, using the following account titles: Cash; Accounts Receivable; Office Supplies; Prepaid Insurance; Land; Building; Furniture; Accounts Payable; Utilities Payable; Notes Payable; Common Stock; Dividends; Service Revenue; Salaries Expense; Rent Expense; and Utilities Expense. Explanations are not required. 2. The following four-column accounts have been opened: Cash, 101: Accounts Receivable, 111; Office Supplies, 121; Prepaid Insurance, 131; Land, 141; Building, 151; Furniture, 161; Accounts Payable, 201; Utilities Payable, 211; Notes Payable, 221; Common Stock, 301; Dividends, 311; Service Revenue, 411; Salaries Expense, 511; Rent Expense, 521; and Utilities Expense, 531. Post the journal entries to four-column accounts in the ledger, using dates, account numbers, journal references, and posting references. Assume the journal entries were recorded on page 1 of the journal. 3. Prepare the trial balance of Terrence Murphy, Attorney, at January 31, 2018. Print Done Clear All Requirement 1. Record each transaction in the journal, using the following account titles: Cash: Accounts Receivable: Office Supplies; Prepaid Insurance: Land Building; Furniture, Accounts Payable; Utilities Payable; Notes Payable; Common Stock: Dividends: Service Revenue; Salaries Expense: Rent Expense; and Utilities Expense. Explanations are not required. (Record debits first, then credits. Exclude explanations from journal entries.) Jan. 1: Murphy contributed $78,000 cash to the business, Terrence Murphy, Attorney. The business issued common stock to Murphy Date Accounts Debit Credit Jan 1