UrbanTech Solutions

Transaction	Description	Amount
1	Issued common stock	$150,000
2	Bought computers on credit	$40,000
3	Paid office rent	$8,000
4	Provided services on account	$50,000
5	Paid employee salaries	$20,000
6	Collected receivables	$35,000
7	Paid for software licenses	$5,000

Requirement: Record journal entries and prepare a balance sheet.