AT&T Inc. has the following transactions for July 2024:

• Issued common stock for $400,000 cash.
• Purchased office furniture for $80,000 cash.
• Paid $25,000 for July rent.
• Sold services for $250,000, with a cost of $150,000.
• Paid $20,000 for utilities.

Required:

1. Record these transactions in the general ledger.
2. Prepare the trial balance as of July 31, 2024.
3. Discuss the importance of maintaining accurate ledger entries in financial accounting.