Visa Inc. has the following transactions for May 2024:

• Issued common stock for $300,000 cash.
• Purchased computer systems for $70,000 cash.
• Paid $20,000 for May rent.
• Sold services for $200,000, with a cost of $120,000.
• Paid $15,000 for utilities.

Required:

1. Record these transactions in the general ledger.
2. Prepare the trial balance as of May 31, 2024.
3. Discuss the importance of maintaining accurate ledger entries in financial accounting.