2B-5. Matt organized a professional counseling center for ex-cowboys on July 1. 20xl. During the first month of operation the business, C-BOYS, Inc., completed the following transactions July 1 July 2 July 3 July 9 July 10 July 11 July 15 July 17 July 22 Matt purchased common stock in the company in return for $39,000 cash. Matt gave his old PC to the company in return for $4,800 of common stock C-BOYS purchased other equipment for $7.800 on account C-BOYS C-BOYS performed counseling services for $3,600 cash. C-BOYS paid $18,000 cash to acquire 100 acres of land in western Kansas. C-BOYS performed 526,000 of services for a client and agreed to be paid in two weeks. C-BOYS paid salaries to its employees of $4,300. C-BOYS paid its utility bill in the amount of $800. C-BOYS paid its rent expense of $5,300. Matt bought some jeans and a hat for $358.57 for his wedding. Matt bought some lear The client who received services on July 10 paid $6,000 cash and received a one-week extension for the rest of the payment. C-BOYS declared and paid $1,400 cash in dividends. C-BOYS performed $2,400 of counseling services for $900 cash with the rest due in three weeks. The client who received services on July 10 paid the remainder of the amount owed. July 26 July 27 July 31 Required: 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. Chapter 2 Section B