P2-30A Journalizing transactions, posting journal entries to T-accounts, and preparing a trial balance Ann Simpson started her practice as a design consultant on September 1, 2018. During the first month of operations, the business completed the following transactions: Sep. 1 Received $48,000 cash and issued common stock to Simpson. 4 Purchased office supplies, $1,200, and furniture, $1,300, on account. 6 Performed services for a law firm and received $1,900 cash. 7 Paid $18,000 cash to acquire land to be used in operations. 10 Performed services for a hotel and received its promise to pay the $1,200 within one week. 14 Paid for the furniture purchased on September 4 on account. 15 Paid assistant's semimonthly salary, 51,500. 17 Received cash on account, $1,000. 20 Prepared a design for a school on account, $650. Received $2,100 cash for design services to be performed in October. 28 Received $2,900 cash for consulting with Plummer & Gordon. 29 Paid 5600 cash for a 12-month insurance policy starting on October 1. 30 Paid assistant's semimonthly salary, $1,500. 30 Paid monthly rent expense, $600. 30 Received a bill for utilities, $350. The bill will be paid next month. 30 Paid cash dividends of $3,700. Requirements 1. Record each transaction in the journal using the following account titles: Cash; Accounts Receivable; Office Supplies; Prepaid Insurance; Land; Furniture; Accounts Payable; Utilities Payable; Unearned Revenue; Common Stock; Dividends; Service Revenue; Salaries Expense; Rent Expense; and Utilities Expense. Explanations are not required. 2. Open a T account for each of the accounts