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At the beginning of April, Vanessa Wende launched a custom computer solutions company called Softworks. The company had the following transactions during April. April 1

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At the beginning of April, Vanessa Wende launched a custom computer solutions company called Softworks. The company had the following transactions during April. April 1 Vanessa Wende invested $155,000 cash, office supplies with a value of $5,100, and $78,000 of computer equipment in the company. 2 The company purchased land worth $55,000 for an office by paying $8,700 cash and signing a long-term note payable for $46,300. 3 The company paid $3,504 cash for the premium on a two-year insurance policy. 5 The company provided services to a client and immediately collected $7,000 cash. 9 The company completed $16,500 services for a client. This amount is to be received within 30 days. 12 The company purchased $1,800 of additional computer equipment on credit. 15 The company paid $1,300 cash for wages to an assistant. 15 The company received a bill for rent of a computer testing device that was used on a recently completed job. The $1,685 rent cost must be paid within 30 days. 18 The company collected $10,000 cash in partial payment from the client described on April 9. 22 The company paid $1,800 cash to settle the payable created on April 12. 24 The company paid $985 cash for minor maintenance of the company's computer equipment. 28 V. Wende withdrew $10,230 cash from the company for personal use. Required 1) Prepare general journal entries to record these transactions (use account titles listed in part 2). 2) Open the following ledger accounts - (T-Accounts are prepared for you): Cash; Accounts receivable; Prepaid Insurance; Office Supplies: Computer Equipment: Land, Accounts Payable: Notes Payable; V. Wende, Capital: V. Wende, Withdrawals: Service Revenue; Wages Expense, Computer Rental Expense; and Repairs Expense. Post the journal entries from part 1 to the ledger accounts. Prepare a trial balance as of the end of April. 3) 3

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