repare journal entries for the following transactions. Assume a beginning Cash balance of $30,000 Prepare T-accounts and post the journal entries to the ledger 1. Performed consulting services for a client in exchange for $3.200 cash. 2. Performed consulting services for a client on account, $1,700 3. Paid $30,000 cash for land. 4. Purchased office supplies on account, $900. 5. Paid a $2,500 cash dividend to stockholders. 6. Paid $550 on account for supplies purchased in Transaction d. 7. Paid $800 cash for the current month's rent. 8. Collected $1,500 from client in Transaction b. 9. Stockholders invested $20,000 cash in the business. 10. Purchased a truck for $36,500. Paid $5,500 down and financed the balance. Given the adjusted trial balance for Sparrow Company below, prepare the necessary closing entries (CE3-27) Use the following information for Cornerstone Exercises 3-24 through 3-27: Sparrow Company had the following adjusted trial balance at December 31. 2019. Sparrow Company Adjusted Trial Balance December 31, 2019 Debit Credit Cash Accounts Reccivable Prepaid Insurance Equipment Accumulated Depreciation (Equipment) Accounts Payable Salaries Payable Unearned Service Revenue Common Stock Retained Earnings Dividends Service Revenuc Salaries Expense Rent Expense Insurance Expense Depreciation Expense Income Taxes Expense S 3,150 5,650 4480 42,000 24.000 2.800 4.450 3.875 8,000 2.255 10.500 99.600 49.400 17.250 2.200 4,950 5,400 $144.980 Totals S144,98O