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Part 1: Daily Activities Accounts that you can use: Common Stock, Cash, Furniture, Computer, Service Revenue, Accounts Receivable, Salaries Expense, Rent Expense, Accounts Payable, Utility Expense, ABM Company completed the following transactions during March, 2017: March 2 Received $11,000 cash from Ruiz, and issued common stock to him. (4 points) March 3 Paid cash to purchase a computer, $4,200. (4 points) March 9 Performed services for a client and received cash for the full amount of $1,000. (4 points) March 12 Paid utility expenses, $200. (4 points) March 16 Purchased office furniture for $1,800. Paid $800 cash. Rest will be paid in two weeks. (4 points) March 18 Performed services for a client on account, $1,500 (4 points) March 28 Collected $1,500 from the client on March 18. (4 points) March 29 Paid $1000 for the payment of furniture purchased on March 16. (4 points) March 30 Performed services for a client and received cash for the full amount of $2,500 (4 points) March 31 Paid monthly office rent, $700 (4 points) March 31 Paid salaries of $ 2,500 for March (4 points) Instructions 1- Journalize the transactions for the month of March 2- Prepare T accounts and trial balance for the montf of March 3- Prepare Income Statement and Balance Sheet at the end of the month. Part 2: Adjusting Entries Advance Corporation has the following transactions that require adjustments for March, 2017. Data for adjusting entries 1- March 1 Received $2.400 in advance for a work to be performed on March 20, the company performed the service on March 20. (13 points) 2. March 1 Purchased one-year insurance policy for $1.200. (13 points) Instructions Prepare the necessary adjusting entries for the month of March for the transaction day and the end of the month. Part 3: Closing Entries Active Sport Co. has the following balances for their accounts at the en of March. Trial Balance 31.03.2016 Accounts Receivable Debit Credit Cash $5.000 Accounts Receivable $2.500 Office Supplies $800 Equipment $1.500 Land $15.000 Capital Stock Sales Revenue Interest Expense Utilities Expense Rent Expense Salaries Expense Total $20.000 $8.500 S650 $450 S1.500 S1.100 $28.500 $28.500 Instructions Please post the closing entries for the month of March (30 points)