$1-$Jan Thompson Professionals was incorporated in the state of VA$.$ The company will provide management consulting services to business and governmental clients.

$2-$Jan Omar M$.$ contributed $$417,000$ of personal funds to the business in exchange for shares of common stock

$3-$Jan

Thompson Professionals signed a contract to provide consulting services for $$70,000$ to ABC client. Work is expected to take $3$ months to complete. No work was completed in January

$4-$Jan

Thompson Professionals received $$66,000$ from F Corporation for work to be performed $-$ half will be completed by the end of January and half will be completed by the end of February.

$5-$Jan Thompson Professionals bought $$7,200$ of office supplies on account

$6-$Jan Thompson Professionals bought $$155,000$ of office equipment on account

$7-$Jan

Thompson Professionals hired $2$ consultants that will provide advisory services to TP and will bill at the rate of $$250/$HR $-$ invoices will be provided the last day of each month services are provided

$8-$Jan Thompson Professionals purchased a $12$ month insurance contract for $$24,000$

$9-$Jan Thompson Professionals paid $$5,500$ cash for rental of office space for January

$10-$Jan Thompson Professionals paid $$3,500$ on account for advertising during January.

$11-$Jan

Thompson Professionals signed a contract with Fed Corp to do business over the year. Thompson performed services to Fed Corp in January for $$12,000,$ half was paid in cash and the rest settled on account. Fed Corp will continue the contract at the rate of $$4000/$month through June with invoicing at the end of the month.

$12-$Jan Thompson Professionals purchased $$2,100$ of supplies using cash

$13-$Jan

Thompson Professionals signed a contract to provide consulting services for $$36,000$ to VA client. Services to be provided equally over the next $12$ months starting in February. Client will be billed at end of each month.

$14-$Jan Thompson Professionals pays employees $$11,000$ in salaries

$15-$Jan

Thompson Professionals borrowed $$250,000$ on a $3\%$ note payable from TrustME Bank. Interest is paid by the $15$th of the month following the accrual.

$16-$Jan Thompson Professionals purchased Land for $$300,000$ cash with plans to build an office building within the next year.

$17-$Jan Thompson Professionals paid $$7,700$ on account for repairs and maintenace to equipment and the office building

$18-$Jan Thompson Professionals loans $$165,000$ to G Corp on a $5\%($interest$)$ note receivable

$19-$Jan Thompson Professionals pays employees $$15,000$ in salaries

$20-$Jan Thompson Professionals performs $$19,100$ in services to Vector Corp on account, N$/60$

$21-$Jan Thompson Professionals purchases $$20,500$ in stock investments

$22-$Jan Thompson Professionals gets a $$3,275$ bill for utilities used in January

$23-$Jan Thompson Professionals pays $$5,500$ in office rent for month of February

$24-$Jan Thompson Professionals pays $$5,000$ in dividends to shareholders

$25-$Jan

Thompson Professionals pays $$2,700$ cash to attend an event to promote business at a convention in January. Determined to be a marketing expense.

$26-$Jan Thompson Professionals pays $$1,300$ cash for taxes

$27-$Jan Thompson Professionals pays employees $$15,000$ in salaries

$28-$Jan Thompson Professionals paid for $$700$ office supplies previously purchased on account

$29-$Jan

Thompson Professionals has to prepare financial statements for the owner and the bank from which the funds were borrowed.

January Month End Adjustments

$31-$Jan Thompson Professionals calculated $$5,500$ in depreciation for January usage of equipment

$31-$Jan Thompson Professionals must recognize the accrued interest on the loan for the month of January

$31-$Jan Thompson Professionals counted $$1,100$ in remaining supplies $($on hand supplies$)$

$31-$Jan

Thompson Professionals owes employees $$9,000$ in salaries for work performed