ABB Consulting Company was incorporated on March 1, 2017. During the first month of operations, the following transactions occurred:

Date	Transaction
1 Mar	Shareholders invested $5,000,000 cash, a $30,000 computer and $10,000 supplies in exchange for common stocks.
4 Mar	ABB paid $100,000 for March rent on office space
6 Mar	ABB purchased $20,000 of supplies on credit from Eslite Stationary Company
10 Mar	ABB borrowed cash from a bank on a note payable $1,000,000.
15 Mar	ABB purchased $200,000 equipment on account.
15 Mar	ABB received a bill for $15,000 from China Times newspaper for advertising, which is allowed to be paid in 1 month.
20 Mar	ABB performed consulting service $200,000 for client Mary and billed Mary on account.
22 Mar	ABB billed John $400,000 for consulting service performed.
27 Mar	ABB received $50,000 cash from John toward its account.
28 Mar	ABB paid its $15,000 bill to China Times newspaper in cash.
30 Mar	ABB paid salary expense $240,000, utility expenses $100,000 and advertising expense $50,000.
31 Mar	ABB paid cash dividends $10,000.

Required:

1. Prepare journal entries to record all transactions in March.
2. Prepare a trial balance as of the end of March.