E$2-18$ Analyzing and journalizing transactions Learning Objective $3$ Journalize the transactions of Wilke Technology Solutions. Include an explanation with each journal entry. Use the following accounts: Cash; Accounts Receivable; Office Supplies; Prepaid Advertising; Land; Building; Accounts Payable; Unearned Revenue; Common Stock; Service Revenue; Rent Expense; and Salaries Expense.

The following transactions occurred for Wilke Technology Solutions:

May $1$ The business received cash of $$105,000$ and issued common stock to Zoe Wilke.

$2$ Purchased office supplies on account, $$550.$

$4$ Paid $$57,000$ cash for building and land. The building had a fair market value of $$45,000.$

$6$ Performed services for customers and received cash, $$3,600.9$ Paid $$350$ on accounts payable.

$17$ Performed services for customers on account, $$3,500.$

$19$ Paid rent expense for the month, $$1,200.$

$20$ Received $$1,500$ from customers for services to be performed next month.

$21$ Paid $$900$ for advertising in next month$$s IT Technology magazine.

$23$ Received $$3,100$ cash on account from a customer.

$31$ Incurred and paid salaries, $$1,700.$

E$2-19$ Posting journal entries to four$-$column accounts$($below$)$

Learning Objective $3$

$2.$ Cash Balance $$52,050$

Requirements

Open four$-$column accounts using the following account numbers: Cash, $110$; Accounts Receivable, $120$; Office Supplies, $130$; Prepaid Advertising, $140$; Land, $150$; Building, $160$; Accounts Payable, $210$; Unearned Revenue, $220$; Common Stock, $310$; Service Revenue, $410$; Rent Expense, $510$; and Salaries Expense, $520.$

Post the journal entries to the four$-$column accounts, and determine the balance in the account after each transaction. Assume that the journal entries were recorded on page $10$ of the journal. Make sure to complete the Post. Ref. columns in the journal and ledger.