10 Required information [The following information applies to the questions displayed below] In January, Tongo, Incorporated, a branding consultant, had the following transactions. a. Received $18,400 cash for consulting services rendered in January. b. Issued common stock to investors for $17,000 cash. c. Purchased $12,200 of equipment, paying 25 percent in cash and owing the rest on a note due in 2 d. Received $11,350 cash for consulting services to be performed in February. e. Bought and received $1,260 of supplies on account. f. Received utility bill for January for $1,880, due February 15. g. Consulted for customers in January for fees totaling $20,900, due in February. h. Received $13,000 cash for consulting services rendered in December. i. Paid $630 toward supplies purchased in (e). 2 years. Required: For each transaction, post the effects to the appropriate T-accounts. Cash Account Receivable Credit Debit Credit January 1 16,400 Debit January 1 16,600 January 31 16,600 January 31 16,400 Equipment Credit Supplies Credit Debit January 1 8,000 Debit January 1 1,360 January 31 1,360 January 31 8,000 Accounts Payable Deferred Revenue Debit Credit Debit Credit January 1 6,600 January 1 3,600 January 31 6,600 January 31 3,600 t Required information Notes Payable Common Stock Debit Credit Debit Credit January 1 January 1 19,000 January 31 1 ces 0 January 31 19,000 Retained Earnings Service Revenue Debit Credit Debit Credit January 1 13,160 January 1 January 31 January 1 13,160 January 31 Utilities Expense Debit Credit January 31 0