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1. Prepare General journal entries to record the transactions.2. Set up the following accounts (use the balance column format or T-accounts): Cash(101); Account Receivable(106);Office supplies (124);Prepaid insurance (128);Prepaid Rent (131);Office Equipment (163);Account Payable (201); Tait Unger ,Capital (301);Tait Unger Withdrawals(302);Service Fees Earned(401);Wage Expense(680);and Utilities Expense(690).3. Post the entries to the accounts,and enter the balance after each posting.4. Prepare a trial balance at November 30,2014 Analysis Component: is the November 29 purchase of office supplies recorded as a debit to an asset or expense account? Explain.

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