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May 1 Jill Wahpoosywan invested $85,000 in cash and office equipment that had a fair value of $58,000 in the business. 1 Prepaid $17,400 cash

May 1

Jill Wahpoosywan invested $85,000 in cash and office equipment that had a fair value of $58,000 in the business.

1 Prepaid $17,400 cash for three months rent for an office.
2 Made credit purchases of office equipment for $29,000 and office supplies for $5,800.
6 Completed services for a client and immediately received $9,000 cash.
9 Completed a $17,000 project for the Chicago Blackhawks who will pay within 30 days.
10 Paid half of the account payable created on May 2.
19 Paid $8,500 cash for the annual premium on an insurance policy.
22 Received $13,800 as partial payment for the work completed on May 9.
25 Completed work for the Washington Redskins for $6,280 on credit.
25 Paid wages for May totalling $39,000.
31 Wahpoosywan withdrew $6,000 cash from the business for personal use.
31 Purchased $2,100 of additional office supplies on credit.
31 Paid $1,500 for the months utility bill.

Required:
1.

Prepare General Journal entries to record the transactions. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field).

2. Post the entries to the accounts and enter the balance after each posting.

3. Prepare a trial balance at May 31, 2014.

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