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1 2 1 5 5 D D Jenny Watson started her consulting business, Jenny Consulting, in 2020. During January 2021, Jenny Consulting had the following
1 2 1 5 5 D D Jenny Watson started her consulting business, Jenny Consulting, in 2020. During January 2021, Jenny Consulting had the following transactions: January 3 Received cash from clients for payment in advance for services to be provided in future, $2,000 9 Paid cash for advertisement expenses, $300 16 20 Paid total cash of $3,400 for salaries, including January salaries of $2,200 and $1200 of salaries payable from December Purchased supplies on account, $400 22 Received cash from clients on account, $1,800 25 Performed services on account and billed clients for services provided, 5900 28 Received cash for services performed in January, $3,800 29 Jenny withdrew $1,300 from capital 30 Paid cash for telephone bill, $250 Required: 1. Record the January transactions in the general journal. Please include an explanation for each journal entry. 2. Post the journal entries in the general ledger 1 General Journal Date Description January 3 Cash Unearned Revenue AC no. PR 1010 31 Debit $ 2,000 Credit $ 2030 11 2,000 To record deposits from clients January 9 Advertising Expense cash 5005 Cash 1010 22 300 8 12 300 To record cash paid for advertisement expenses January 16 Salaries Payable 2020 13 1,200 5010 13 2,200 P
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