On March 1, 2019, Chi Huynh decided to operate The Dreamer proprietorship, where she would offered tea and cake as well as operate classes teaching birthday cake. During the month of March, the business incurred the following transactions: Mar. 5 Chi deposited VND120,000,000 in her personal bank account. 7 Chi opened a bank account under the name Cookie Creations and transfered VND100,000,000 from her personal account to the new account. 8 Chi paid VND5,000,000 for online advertising. 9 Chi hired a bartender who had experience in baking and the salary agreement is VND6,000,000 a month, which would be paid every 25th of the month and the first payment is 25th this month. 11 She buys baking and drink supplies, such as flour, sugar, butter, chocolate chips, tea, milk and whipping cream, for VND12,500,000 cash. 16 Chi purchased baking equipment that cost her VND21,000,000. 18 Chi realized that her initial cash investment is not enough and decided to borrow her aunt VND50,000,000 cash, for which Chi signed a note payable in the name of the business. 19 She purchased another baking equipment for VND23,000,000 cash. 21 She teaches her first class and collects VND24,000,000 cash 27 Chi became famous and there are 11 students book her class in December and paid in advance for VND5,000,000 per student.

31 Chi paid VND36,000,000 for a one-year insurance policy that will expire on April 1, 2020.

Instructions: (a) Prepare journal entries to record the Mach transactions. (b) Post the journal entries to general ledger accounts. (c) Prepare a trial balance at March 31.