Jean Akins opened a consulting business. Journalize the following transactions that occurred during the month of January of the current year using the modified cash basis and a combination journal. Set up special columns for Consulting Fees (credit) and Wages Expense (debit).

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Jan. 1 Invested cash in the business, $10,000. 2 Paid office rent, $500. 3 5 8 10 11 15 Purchased office equipment on account from Business Machines, Inc., $1,500. Received cash for services rendered, $750. Paid telephone bill, $65. Paid for a magazine subscription (miscellaneous expense), $15. Purchased office supplies on account from Leo's Office Supplies, $300. Paid for one-year liability insurance policy, $150. Paid part-time help, $500. 18 21 Received cash for services rendered, $350. 25 Paid electricity bill, $85. 27 Withdrew cash for personal use, $100. 29 Paid part-time help, $500.