2-4A More Journal Entries, T-Accounts, Trial Balance Adworks Inc. is a web-based advertising agency that develops animated commercials and banner ads for clients. The company had the following account balances entering the month of January: Cash $12,000; Accounts Receivable $4,000; Supplies $500; Equipment $17,000; Accumulated Depreciation Equipment $6,000; Accounts Payable $3,500; Bank Loan $9,000; Common Shares $1,000; and Retained Earnings $14,000. The following transactions occurred during the month: January 1 Spent $1,100 on Google Adwords to promote the business. January 2 Renewed insurance. Paid $4,000 for a one-year insurance renewal. January 4 Collected accounts receivable from the prior month. January 9 Purchased new computer: $1,500 on account. January 11 Paid accounts payable from December. January 15 Paid employees salaries of $3,000. January 16 Issued 4,000 common shares, received $15,000. January 19 Hired two new employees who will start in February and March. Both will receive monthly salaries of $4,000 (each). January 22 Billed and collected $15,000 from clients. January 24 Received but did not yet pay cable internet bill: $400. January 28 Received, but did not pay the electric bill: $200. January 29 Completed a job and billed a client $3,000 but did not collect. January 31 Paid dividends to shareholders of $2,000. January 31 Paid income taxes for the month $1,000. January 31 Received an advance of $5,000 from a client. (Note, we had not done any work.) Post the transactions to T-Accounts.