Janet Enterprises incorporated on May 3, current year. The company engaged in the following transactions during its first month of operations May ? Conued capital stock in exchange for $950,000 cash. May 4 Paid May office rent expense of $1,800. May 5 Purchased office supplies for $600 cash. The supplies will last for several months May 15 Purchand office equipment for $12, 400 on account. The entire amount is due June 15. May 18 Purchased a company car for 645,000. Paid $15,000 cash and used note payable for the remaining anount owed. May 20 Billed clients $120,000 on account. may 26 Declared an 88,000 dividend. The entire amount will be distributed to shareholders on June 26. May 29 Pald May utilities of $500. May 30 Received $90,000 from clients billed on May 20. May 31 Recorded and paid salary expense of $32,000. A partial list of the account titles used by the company includes the following Cash Accou Receivable office Supplies Office Equipment Vehicles Notes Payable Accounts Payable Dividends Payable Dividends Capital Stock Client Revenue office Rent Expense Salary Expense Utilities Expense a. Prepare journal entries for the above transactions b. Post each entry to the appropriate ledger accounts. c. Prepare a trial balance dated May 31, current year. Assume accounts with zero balances are not included in the trial balance Complete this question by entering your answers in the tabs below. Required A Required B Required Glenn Grimes is the founder and president of Heartland Construction, a real estate development venture. The business transactions during February while the company was being organized are listed as follows. Feb. 1 Grimes and several others invested $500,000 cash in the business in exchange for 30,000 shares of capital stock. Feb. 10 The company perchased office facilities for $300,000, of which $100,000 was applicable to the land and $200,000 to the building. A cash payment of $60,000 was made and a note payable vas sued for the balance of the purchase price. Feb. 16 Computer equipment was purchased from world for $14,900 cash Feb. 18 office furnishings were purchased from i-Way Furnishings at a cost of $9.850. A 5985 cash payment was made at the time of purchase, and an agreement was made to pay the remaining balance in two equal installmente due March 1 and April 1. -Way Furnishings did not require that Heartland sign a promissory note. Feb. 22 office supplies were purchased from Office World for 5435 canh Feb. 23 Heartland discovered that it paid too much for a computer printer purchased on February 16. The unit should have cost only $350, but Heartland was charged $395. PCWorld promised to refund the difference within seven days. Feb. 27 Malled Hi-Way Furnishings the first installment due on the account payable for office furnishings purchased on February 18 Feb. 28 Received $45 from PCWorld in full settlement of the account receivable created on February 23. Required: a. Prepare journal entries to record the above transactions. Select the appropriate account titles from the following chart of accounts. Cash Accounts Receivable Office Supplies Office Purnishing Computer Systems Land office building Notes Payable Accounts Payable Capital Stock b. Indicate the effects of each transaction on the company's assets, labilities, and owners' equity for the month of February. The Feb. 1 transaction is provided for you. Shown as follows are selected transactions of the architectural firm of Munson, Chang, and Alverez, Inc. April 5 Prepared building plans for Biltmore Construction Company. Sent Biltmore an invoice for $16,200 requesting payment within 30 days. The appropriate revenue account is entitled Drafting Tees Earned.) May 17 Declared a cash dividend of 624,000. The dividend will not be paid until July 8. May 29 Received a $5,200 1111 from Dave Jensen, CH, for accounting services performed during my Payment is due by June 10. (The appropriate expense account is entitled Professional Expenses.) June 4 Received full payment from Biltmore Construction Company for the invoice sent on April 5. June 10 Paid Dave Jensen, CPA, for the bill received on May 29. July & Paid the cash dividend declared on May 17. a. Prepare journal entries to record the transactions in the firm's accounting records (If no entry is required for a transaction/event, select "No journal entry required in the first account field.)