March 1. Byutee and Beest invested a total of $100,000 cash, and $20,000 of office equipment in exchange for 100 shares of capital stock.

1. Purchased office desks and chairs for $3,000 on credit.
1. Purchased a one-year professional liability insurance policy for $2,400 that will provide coverage from March 1, 2016 to February 28, 2017.
3. Paid office rent for March, $4,500.
5: Purchased $2,000 of office supplies for cash.
8: Billed and collected $10,000 from client ABC for services performed.
12. Billed Client DEF $16,000 for services rendered.
15. Paid the secretary his semi-monthly salary of $1,000.
16. Purchased $1,000 of office supplies on account.
19. Purchased three notebook computers for $12,000. Paid $5,000 down and signed a promissory note for the balance.
20. Received a telephone bill for $100 and an invoice for utilities (electricity and gas) for $1,000.
21. Paid April and May rent, $9,000.
22. Purchased and paid for an office copier, $5,000.
28. Paid the telephone bill that was received on March 20.
29. Paid $200 for cleaning services for the office.
31. Paid the secretary his semi-monthly salary of $1,000.
31. Received $3,500 from Client DEF in partial payment of the March 12 invoice.

II. After you record the above transactions in the journal, post them to ledger accounts. Make up simple T accounts similar to those below: