2B-5. Matt organized a professional counseling center for ex-cowboys on July 1, 20x1. During the first month of operation the business, C-BOYS, Inc. completed the following transactions. Matt purchased common stock in the company in return for 4thly- hk- $29,000 cash. Matt gav his old PC to the company in return for $1,100 of common stock. July-C-BOYS purchased other equipment for $4,800 on account. ulyC-BOYS performed counseling service for $8,900 cash. July C-BOYS paid $23,000 cash to acquire 100 acres of land in westenm Kansas. July 10 C-BOYS performed $24,000 of services for a client and agreed to tuly+C-BOYS paid salaries to its employees of $3,800. be paid in two weeks. utys C-BOYS paid its utility bill in the amount of $900. JelyC-BOYS paid its rent expense of $5,600. ly July 24 The client who received services on July 10 paid $8,000 cash and Matt bought some jeans and a hat for $324.87 for his wedding. received a one-week extension for the rest of the payment. July 26 C-BOYS declared and paid $2,100 cash in dividends. tty2 C-BOYS performed $4,900 of counseling service for $800 cash with the rest due in three weeks. The client who received services on July 10 paid the remainder o the amount owed. uly 31 Required: /5 Use the following accounts in this answer: Cash, Accounts receivable, Supplies, Equipment, Land, Accounts payable, Common stock, Dividends, Service revenue, Salary expense, Rent expense, Utilities expense. 1. Record each transaction in the journal using the account names provided. Each transaction should be keyed by its date. The explanation line may be omitted. 2. Post each of the transactions to the ledger using the T-account format. Use the label bal for the beginning and ending balance in each account. Be sure to label each entry with the date of each transaction 3. Prepare the trial balance as of July 31, 20x1