1. On January 1, 2018 Potter Consulting Services Incorporated (PCS Inc.) opened for business. The corporation completed the following transactions during January. Analyze each transaction and make the appropriate journal entry in the space provided. (60 Points)

e. January 3 performed consulting services for cash $5,000.

f. January 3 performed consulting services on account $3,500.

g. January 12 Signed a 3 year 5% note at first National Bank and received cash $20,000.

h. January 15 Received $4,000 cash in advance for consulting services to be performed in February 2018.

i. January 15 Sold 15 copies of Planning Software at $10 per copy assume perpetual inventory system is used. The sale was for cash $150. Cost of Goods Sold was $75.

j. January 15. Paid cash to employees for salaries for working first two weeks of year. $4,500.

k. January 15 Collect the $3,500 cash for the account receivable from the client for whom the services were performed on January 3.