Denzel Brooks opened a Web consulting business called Venture Consultants and completed the following transactions in March. March 1 Brooks invested $195,000 cash along with $27,000 in office equipment in the company. March 2 The company prepaid $7,000 cash for six months' rent for an office. Hint: Debit Prepaid Rent for $7,000. March 3 The company made credit purchases of office equipment for $3,700 and office supplies for $2,500. Payment is due within 10 days. March 6 The company completed services for a client and immediately received $6,500 cash. March 9 The company completed a $8,600 project on credit for a client, who must pay within 30 days. March 12 The company paid $6,200 cash to settle the account payable created on March 3.

Required:

1. Prepare general journal entries to record these transactions using the following titles: Cash (101); Accounts Receivable (106); Office Supplies (124); Prepaid Insurance (128); Prepaid Rent (131); Office Equipment (163); Accounts Payable (201); D. Brooks, Capital (301); D. Brooks, Withdrawals (302); Services Revenue (403); and Utilities Expense (690).
2. Post the journal entries from part 1 to the ledger accounts.
3. Prepare a trial balance as of the end of March.

Prepare a trial balance as of the end of March.

VENTURE CONSULTANTS
Trial Balance
March 31
	Debit	Credit
Cash
Accounts receivable
Office supplies
Prepaid insurance
Prepaid rent
Office equipment
Accounts payable
Services revenue
Utilities expense
Totals	$0	$0