Business transactions completed by Hannah Venedict during the month of September are as follows. A. Venedict invested $88,000 cash along with office equipment valued at $23,000 in a new business named HV Consulting in exchange for common stock.
B. The company purchased land valued at $45,000 and a building valued at $170,000. The purchase is paid with $35,000 cash and a long-term note payable for $180,000.
C. The company purchased $2,100 of office supplies on credit.
D. Venedict invested her personal automobile in the company in exchange for more common stock. The automobile has a value of $17,000 and is to be used exclusively in the business.
E. The company purchased $5,600 of additional office equipment on credit.
F. The company paid $1,900 cash salary to an assistant.
G. The company provided services to a client and collected $7,000 cash.
H. The company paid $645 cash for this month's utilities.
I. The company paid $1,700 cash to settle the account payable created in transaction c.
J. The company purchased $20,300 of new office equipment by paying $20,300 cash.
K. The company completed $6,750 of services for a client, who must pay within 30 days.
L. The company paid $1,800 cash salary to an assistant.
M. The company received $4,000 cash in partial payment on the receivable created in transaction k.
N. The company paid $2,600 cash in dividends.
Required:
1. Prepare general journal entries to record these transactions.
2. Prepare a trial balance as of the end of September.