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2 3 Jenny Watson started her consulting business, Jenny Consulting, in 2020. During January 2021, Jenny Consulting had the following transactions: Received cash from
2 3 Jenny Watson started her consulting business, Jenny Consulting, in 2020. During January 2021, Jenny Consulting had the following transactions: Received cash from clients for payment in advance for services to be provided in future, $1,000 Paid total cash of $4,400 for salaries, including January salaries of $3,200 and $1,200 of salaries payable from December Purchased supplies on account, $400 January 3 9 Paid cash for advertisement expenses, $500 16 20 22 Received cash from clients on account, $2,800 28 Received cash for services performed in January, $5,800 25 Performed services on account and billed clients for services provided, $980 29 Jenny withdrew $2,000 from capital 30 Paid cash for telephone bill, $150 4 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 (for Part 1 only, no need for other Parts) 5
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