Denzel Brooks opens a Web consulting business called Venture Consultants

Denzel Brooks opens a Web consulting business called Venture Consultants and completes the following transactions in March.

March 1

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Brooks invested $180,000 cash along with $22,000 in office equipment in exchange for common stock.

2

The company prepaid $7,500 cash for six months’ rent for an office. (Hint: Debit Prepaid Rent for $7,500.)

3

The company made credit purchases of office equipment for $2,800 and office supplies for $1,300. Payment is due within 10 days.

6

The company completed services for a client and immediately received $6,000 cash.

9

The company completed a $12,100 project for a client, who must pay within 30 days.

12

The company paid $4,100 cash to settle the account payable created on March 3.

19

The company paid $7,000 cash for the premium on a 12-month insurance policy. (Hint: Debit Prepaid Insurance for $7,000.)

22

The company received $5,400 cash as partial payment for the work completed on March 9.

25

The company completed work for another client for $5,170 on credit.

29

The company paid $4,900 cash in dividends.

30

The company purchased $500 of additional office supplies on credit.

31

The company paid $900 cash for this month’s utility bill.

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