2-7A (Algo) Complete the steps in the measurement of external transactions (LO2-4, 2-5, 2-6) (GL) Below are the transactions for Button Sewing Shop for March, the first month of operations. March 1 March 3 March 5 March 7 Issue common stock in exchange for cash of $1,100. Purchase sewing equipment by signing a note with the local bank, $800. Pay rent of $410 for March. Martha, a customer, places an order for alterations to several dresses. Button estimates that the alterations will cost Martha $610. Martha is not required to pay for the alterations until the work is complete. March 12 Purchase sewing supplies for $111 on account. This material will be used to provide services to customers. March 15 Button delivers altered dresses to Martha and receives $610. March 19 Button agrees to alter 10 business suits for Bob, who has lost a significant amount of weight recently. Button receives $510 from Bob and promises the suits to be completed by March 25. March 25 Button delivers 10 altered business suits to Bob. March 30 Pay utilities of $76 for the current period. March 31 Pay dividends of $55 to stockholders." Requirement General General Trial Balance Journal Ledger Record each of the transactions listed above in the 'General Journal' tab (these are shown as items 1-10). Review the General Ledger and the "Trial Balance' tabs to see the effect of the transactions on the account balances. Regulament General Journal > No Date 1 March 01 Cash Common Stock 2 March 03 Supplies 3 March 05 Rent Expense 4 March 07 Deferred Revenue 5 March 12 Supplies 6 March 15 Service Revenue 7 March 19 Deferred Revenue Account Title D Debit 1,100 Credit 800 80 410 111 610 8 March 25 Service Revenue 510 9 March 30 Utilities Payable 10 March 311 Dividends 76 76 55 1,100 Cash. No. Date Debit 1 March 01 1,100 Utilities Payable No. Date Debit 9 March 30 76 General Ledger Account Supplies Credit Balance No. Date Debit Credit Balance 0 0 1,100 2 March 03 5 March 12 800 111 800 911 Common Stock Credit Balance No. Date Debit Credit Balance 0 (76) March 01 1,100 0 1,100 Dividends Service Revenue No. Date Debit Credit Balance No. Date Debit Credit Balance 0 0 10 March 31 55 55 44 6 March 15 610 8 March 25 510 (610) (1,120) Rent Expense No. Date Debit 3 March 05 410 Credit Balance 0 410 Requirement General Journal General Ledger Trial Balance 4444444 Cash Supplies Utilities Payable Common Stock Dividends Service Revenue Rent Expense. Total BUTTON SEWING SHOP Trial Balance March 31, 2024 Account Title < General Ledger Trial Balance > Debit Credit $ 1,100 911 76 1,100 55 1,120 410 $ 3,672 $ 1,100