Problem 2-3A (Algo) Preparing and posting journal entries; preparing a trial balance LO A1, P1 Denzel Brooks opened a Web consulting business called Venture Consultants and completed the following transactions in March March 1 Brooks invested $195,000 cash along with $20,000 in office equipment in the company in exchange for common stock. March 2 The company prepaid $7,000 cash for six months' rent for an office. Hint: Debit Prepaid Rent for $7,000. March 3 The company made credit purchases of office equipment for $3,900 and office supplies for $1,400. Payment is due within 18 days March 6 The company completed services for a client and immediately received $5,500 cash. March 9 The company completed a $12,000 project on credit for a client, who must pay within 30 days. March 12 The company paid $5,380 cash to settle the account payable created on March 3. March 19 The company paid $5, 700 cash for the premium on a 12-month insurance policy. Hint: Debit Prepaid Insurance for $5,700. March 22 The company received $3,700 cash as partial payment for the work completed on March 9. March 25 The company completed work for another client for $4,230 on credit. March 29 The company paid a $5,500 cash dividend. March 30 The company purchased ssee of additional office supplies on credit. March 31 The company paid $600 cash for this month's utility bill. Required: 1. Prepare general journal entries to record these transactions using the following titles: Cash (101); Accounts Receivable (106); Office Supplies (124), Prepaid Insurance (128) Prepaid Rent (131): Office Equipment (163) Accounts Payable (201): Common Stock (307) Dividends (319); Services Revenue (403) and Utilities Expense (690) 2. Post the journal entries from part 1 to the ledger accounts. 3. Prepare a trial balance as of the end of March. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3