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help please Chapter 3 Preparing and posting journal entries (2A-1) Karla Tanner opened a web consulting business called Agri Consulting and completed the following transactions

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Chapter 3 Preparing and posting journal entries (2A-1) Karla Tanner opened a web consulting business called Agri Consulting and completed the following transactions in its first month of operations. Apr. 1 2 3 6 9 Tanner invested $80,000 cash along with office equipment valued at $26,000 in the company in exchange for common stock. The company prepaid $9,000 cash for 12 months' rent for office space. (Hint: Debit Prepaid Rent for $9,000.) The company made credit purchases for $8,000 in office equipment and $3,600 in office supplies. Payment is due within 10 days. The company completed services for a client and immediately received $4,000 cash. The company completed a $6,000 project for a client, who must pay within 30 days. The company paid $11,600 cash to settle the account payable created on April 3. The company paid $2,400 cash for the premium on a 12-month insurance policy. (Hint: Debit Prepaid Insurance for $2,400.) The company received $4,400 cash as partial payment for the work completed on April 9. The company completed work for another client for $2,890 on credit. The company paid $5,500 cash in dividends. The company purchased $600 of additional office supplies on credit. The company paid $435 cash for this month's utility bill. 13 19 2 3 4 22 25 28 29 5 30 6 7 Required 8 1. Prepare general journal entries to record these transactions (use account titles listed 9 in part 2) 50 2. Open the following ledger accounts using T accounts - their account numbers are in 31 parentheses (use the balance column format): Cash (101); Accounts Receivable (106); Office Supplies (124); Prepaid Insurance (128); Prepaid Rent (131); Office Equipment (163); Accounts Payable (201); Common Stock (307); Dividends (319); 34 Services Revenue (403); and Utilities Expense (690). Post journal entries from part 1 35 to the ledger T-accounts. 36 3. After posting all the transactions - balance the T-accounts and verify the Assets = Liabilities + Owners Equity 37 32 33 38 Date Account and Description PR Debit Credit Cash 30000 27500 2500

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