2.30A Journalizing tran Journalizing transactions, posting a nal entries Tacco , preparing a trial balance Simpson started her practice as a design count on Sep 1.21 in the first month of operations, the business completed the following During Recording the Ann Simpso transactions: Learning Objectives 1 4 6 7 14 Received $48,000 cash and gave capital to Simpson Purchased office supplies, $1,200, and furniture, $1,300, on account Performed services for a law firm and received $1,900 cash. Paid $18,000 cash to acquire land to be used in operations Performed services for a hotel and received its promise to pay the $1,200 within one week Paid for the furniture purchased on September 4 on account Paid assistant's semimonthly salary, 51,500. Received cash on account, $1,000. Prepared a design for a school on account, 5650. Received $2,100 cash for design services to be performed in October Received $2,900 cash for consulting with Plummer & Gordon 15 17 20 25 28 29 30 30 Paid $600 cash for a 12-month insurance policy starting on October 1. Paid assistant's semimonthly salary, $1,500. Paid monthly rent expense, $600. Paid Received a bill for utilities, $350. The bill will be paid next month. Simpson withdrew cash of $3,700. 30 30 Requirements 1. Record each transaction in the journal using the following account titles: Cash; Accounts Receivable; Office Supplies: Prepaid Insurance, Land; Furniture; Accounts Payable; Utilities Payable; Unearned Revenue, Simpson, Capital; Simpson, Withdrawals; Service Revenue: Salaries Expense; Rent Expense; and Utilities Expense. Explanations are not required. 2. Open a T-account for each of the accounts. 3. Post the journal entries to the T-accounts, using transaction dates as posting references in the ledger accounts. Label the balance of each account Bal. 4. Prepare the trial balance of Ann Simpson, Designer, as of September 30, 2018