2-5A Recording transactions; posting to ledger; preparing a trial balance L.O. C3, A1, P1, P2 Business transactions completed by Eric Pense during the month of September are as follows. a. Pense invested $86,000 cash along with office equipment valued at $20,000 in exchange for common stock of a new company named EP Consulting. b. The company purchased land valued at $35,000 and a building valued at $165,000. The purchase is paid with $35,000 cash and a long-term note payable for $165,000. c. The company purchased $2,300 of office supplies on credit. d. Pense invested his personal automobile in the company in exchange for more common stock. The automobile has a value of $16,000 and is to be used exclusively in the business. e. The company purchased $5,300 of additional office equipment on credit. f. The company paid $1,900 cash salary to an assistant. g. The company provided services to a client and collected $7,400 cash. h. The company paid $630 cash for this month's utilities. i. The company paid $2,300 cash to settle the account payable created in transaction c. j. The company purchased $20,200 of new office equipment by paying $20,200 cash. k. The company completed $7,000 of services for a client, who must pay within 30 days. l. The company paid $1,800 cash salary to an assistant. m. The company received $3,500 cash in partial payment on the receivable created in transaction k. n. The company paid $2,700 cash for dividends. Required: 1. Record these transactions using the following titles: Cash (101); Accounts Receivable (106); Office Supplies (108); Office Equipment (163); Automobiles (164); Building (170); Land (172); Accounts Payable (201); Notes Payable (250); Common Stock (307); Dividends (319); Fees Earned (402); Salaries Expense (601); and Utilities Expense (602). 1. Journal Entry Worksheet Transaction/ General ledger/ debit/ /credit 2. Open the ledger accounts for the account titles referred in part 1 and post the journal entries from part 1 to the ledger accounts and enter the balance after each posting. (Enter the transactions in the order presented. Do not skip rows.) 3. Prepare a trial balance as of the end of September 30 Debit and credit