Journalize the following transactions, prepare ledger accounts, and trial balance.

On August 1, Mr. Lonely established an incorporated company named Be Happy, Inc. with a $100,000 cash investment.

On August 2, the company bought sophisticated equipment on credit that cost $25,000.

On August 4, Be Happy, Inc. received $15,000 in advance from U-GO company for an entertainment show on September 30.

On August 5, Be Happy, Inc. paid $2,000 cash for August office rent.

On August 7, the company paid $1,200 for a one-year insurance policy.

On August 9, Be Happy, Inc purchased supplies on account for $5,000 from Me-Supply.

On August 20, Be Happy Board of directors declared a $1,500 cash dividend to stockholders.

On August 30, the company receives $30,000 from We-Delighted for a music performance.