At the beginning of June 20X5, Aver

At the beginning of June 20X5, Avery Wilson created a custom computer programming company called Softouch Co. The company had the following transactions during July, its second month of operations:July 1 Avery Wilson purchased on credit office equipment for €4,500 and computer equipment for €28,000. 2 Purchased land for an office. The land was worth €24,000, which was paid with €4,800 cash and a long-term note payable for €19,200. 3 Purchased a portable building with €21,000 cash and moved it onto the land. 5 Paid €6,600 cash for the premiums on two one-year insurance policies. 9 Provided services to a client and collected €3,200 cash. 12 Purchased additional computer equipment for €3,500. Paid €700 cash and signed a long-term note payable for the €2,800 balance. 15 Completed €3,750 of services for a client. This amount is to be paid within 30 days. 16 Purchased €750 of additional office equipment on credit. 20 Completed another software job for €9,200 on credit. 21 Received a bill for rent on a computer that was used on the completed job. The €320 rent must be paid within 30 days. 22 Collected €4,600 from the client described in the transaction on July 20. 23 Paid €1,600 wages to an assistant. 24 Paid the account payable created in the transaction of July 16. 25 Paid €425 cash for some repairs to an item of computer equipment. 26 Avery Wilson withdrew €3,875 in cash form the business for personal use. 27 Paid €1,600 wages to an assistant. 28 Paid €800 cash to advertise in the local newspaper. 29 Received €1,400 from a client for services to be performed I August.Required1.Open the following accounts (use the balance column format) entering the balances brought forward from June 30, 20X5: Cash€51,175; Accounts Receivable€950; Prepaid Insurance €275; Office Equipment €1,200; Computer Equipment €800; Building €14,000; Land €6,000; Accounts Payable €725; Unearned Fees €-0-; Long-Term Notes Payable €7,000; Avery Wilson, Capital €60,000; Avery Wilson, Withdrawals €600; Fees Earned €8,400; Wages Expense €780; Computer Rental Expense€230; Advertising Expense €75; and Repairs Expense €40.2.Prepare General Journal entries to record the transactions. 3.Prepare a trial balance as of the end of the month.