Question 1: During March, the following transactions were completed by Bree Inc., a new business started on March 1, 2015.

March 1 Sold 30,000 shares of $10 par value stock for $200,000 cash.

1 Purchased equipment for $25,000, paying $6,000 cash, charging the balance on account.

3 Purchased office supplies for $1,000 on account.

5 Paid $3,600 cash for 1-year insurance policy effective March 1. Use the account Prepaid Insurance to record this asset.

12 Billed customers $8,000 forprofessional services.

18 Paid $12,000 cash on amount owed on equipment and $500 on amount owed on office supplies.

20 Paid $2,000 cash for employee salaries.

21 Collected $5,000 cash from customers billed on March 12.

25 Billed customers $15,000 for professional services.

31 Paid $1,200 for the monthly utilities for the office.

31 Paid cash dividend of $.30 per share to shareholders

Required:

Journalize the previous transactions, omitting explanations (include narration)