Inbox (2,790) - Open with Preparing and posting journal entrepring a balance C3 C4 A1 P1 P2 Kasch Nowar opens a web consulting business called Meshreki Consultants and completes the following transactions in March March 1 Nawar invested $150,000 cash along with S22,000 in office equipment in the company 2 The company prepaid $6.000 cash for six months rent for an office. (Hint: Debit Prepaid Rent for $6.000.) 3 The company made credit purchases of office equipment for $2.000 and office supplies for SIU Payment is due within 10 days 6 Thompany completed services for a client and immediately received 4.000 cash 9 The company completed a $7.500 project for a client, who must pay within 30 days 12 The company paid $4,200 cash to settle the account payable created on March 3. 19 The company paid 5.000 cash for the premium on a 12-month insurance policy. (Hint: Debit Prepaid Insurance for 55.000) 22 The company received 53500 cash as partial payment for the work completed on March 9. 25 The company completed work for another client for 3.820 cm credit 29 Nawar withdrew 55,100 cash from the company for personal use. 30 The company purchased S600 of ditional office supplies on credit. 31 The company paid $500 cash for this month's utility bill Required 1. Prepare general journal entries to record these transactions (use the account titles listed in part 2). 2. Open the following ledger account their account numbers are in parentheses (use the balance col um formatCash (101k Accounts Receivable (106) Office Supplies (124: Prepaid Insurance (128) Prepaid Rent (13) Office Equipment (163) Accounts Payable (201): K. Nawar Capital (301): K Nawar. Withdrawals (30 Services Revenue (403) Utilities Expense 600 Post the journal entries from part I to the led accounts and enter the balance after each posting 3. Prepare a trial balances of the end of March Complete this problem over the weekend if you want some practice to "get ahead of the game". Journalize, Post and Trial Balance. The the three financial statements, Income, OE and Balance Sheet. To help see check figures above; ending cash balance $136,700. Then for the Trial Balance, total Dr. $187.920. In addition, turning to the financial statements Net income, $14,820 Ending OE $181,720 And on the B/S A=L+OE = $182,320