the first month of P2-32A P2-31A Journalizing transactions, posting journal entries to four-colu accounts, and preparing a trial balance Terrence Murphy opened a law office on January 1, 2018. During the first m operations, the business completed the following transactions: 0,160 Jan. 1 Murphy contributed $78,000 cash to the business, Terrence Muro Attorney. The business gave capital to Murphy. 3 Purchased office supplies. $600, and furniture, $1,700, on account 4 Performed legal services for a client and received $1,000 cash. 7 Purchased a building with a market value of $130,000, and land with market value of $25,000. The business paid $25,000 cash and signed note payable to the bank for the remaining amount. Prepared legal documents for a client on account, $400. 15 Paid assistant's semimonthly salary, S1, 120. 16 Paid for the office supplies purchased on January 3 on account. 18 Received $2,700 cash for helping a client sell real estate. 19 Defended a client in court and billed the client for $1,800. 25 Received a bill for utilities, $600. The bill will be paid next month. 29 Received cash on account, $1,500. 30 Paid $1,200 cash for a 12-month insurance policy starting on February 1. 30 Paid assistant's semimonthly salary, $1,120. 31 Paid monthly rent expense, $1,800. 31 Murphy withdrew cash of $2,200. Requirements 1. Record each transaction in the journal, using the following account titles: Cash; Accounts Receivable; Office Supplies; Prepaid Insurance; Land; Building Furniture; Accounts Payable; Utilities Payable; Notes Payable; Murphy, Capital; Murphy, Withdrawals; Service Revenue; Salaries Expense; Rent Expense; and Utili- ties Expense. Explanations are not required. 2. Open the following four-column accounts including account numbers: Cash, 101; Accounts Receivable, 111; Office Supplies, 121; Prepaid Insurance, 131, Land, 141; Building, 151; Furniture, 161; Accounts Payable, 201: Utilities Payable, 211, Notes Payable, 221; Murphy, Capital, 301; Murphy, Withdrawals, 311; Service Revenue, 411; Salaries Expense, 511; Rent Expense, 521; and Utilities Expense, 531. 3. Post the journal entries to four-column accounts in the ledger, using dates, account numbers, journal references, and posting references. Assume the journal entries were recorded on page 1 of the journal. 4. Prepare the trial balance of Terrence Murphy, Attorney, at January 31, 2018