Ford Motor Company has the following transactions for December 2024:

• Issued common stock for $700,000 cash.
• Purchased manufacturing equipment for $150,000 cash.
• Paid $50,000 for December rent.
• Sold vehicles for $500,000, with a cost of $300,000.
• Paid $45,000 for utilities.

Required:

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