1. Listed below are the transactions that occurred in September 2006.

9/1 The company issued 500 shares of capital stock at $10 per share.

9/2 Jackson Corporation borrowed $10,000 from the bank signing a 3-month note at 12% annual interest.

9/3 $3,000 supplies were purchased on account.

9/4 Office furniture was purchased for $6,000 cash. The furniture is expected to have a ten-year life, with no residual value.

9/15 Wages for the first half of September were paid, $2,000.

9/17 The company billed customers $1,500 for services performed.

9/20 $3,000 was received for services to be provided in September and October.

9/23 $5,000 cash was received for services performed in September.

9/27 The company collected $1,000 on account.

9/30 Declared and paid dividends, $1,000.

2. Post each of the journal entires to the appropriate ledger (T) accounts.

4. Record in general journal form any adjusting entries needed at the end of September and post the entries to the ledger. Additional information available at the end of SEptember includes:

k. $2,000 of supplies remains on hand.

l. Fees earned but not yet billed total $3,000.

m. By the end of September, the company had performed one-third of the services related to the 9/20 transaction.

n. At the end of September, employees were owed $2,000.

o. Hint: There are two more adjusting entries required ( 9/2 and 9/4)

5. Post adjusting journal entries to the ledger accounts.

Use the appropriate following accounts to record the journal entries:

Cash

Accounts Receivable

Supplies

Office Furniture

Accumulated Depreciation-Office Furniture

Notes Payable

Accounts Payable

Unearned Revenue

Wages Payable

Interest Payable

Dividends

Capital Stock

Retained Earnings

Revenue

Wages Expense

Supplies Expense

Depreciation Expense Office Furniture

Interest Expense