HHH company was opened on January 1, 2020. The following selected events and transactions occurred during January:

Jan. 1 Invested 60,000 cash in the business in exchange for ordinary shares.

3 Purchased Land and equipment for 38,000 cash. The price consists of land 23,000, and equipment 15,000. (Make one compound entry.)

5 Paid for advertising expenses of 1,600.

6 Paid 2,400 for a one-year insurance policy.

10 Purchased equipment for 1,050 from Parton Company payable in 30 days.

18 Received from clients 340 of fees earned.

19 Sold 100 coupon books for 18 each.

25 Declared and paid an 800 cash dividend.

30 Paid salaries of 250.

30 Paid Parton Company in full.

31 Received 200 cash for fees earned.

Instructions

1. Journalize the March transactions.

2. Posting to Ledger

3. Prepare a trial balance for January 31, 2020