3.		Invested $3,000 cash into business.
5.		Received cash from clients on account, $1,450.
9. 12.		Paid cash for a newspaper advertisement, $225. Received cash from clients as an advance payment for services to be provided and recorded it as unearned fees, $2,700.
13.		Paid Office Station Co. for part of the debt incurred on April 5, $640.
15.		Provided services on account for the period May 115, $9,180.
16.		Paid part-time receptionist for two weeks' salary including the amount owed on April 30, $700.
17.		Received cash from cash clients for fees earned during the period May 116, $8,510.

Record the following transactions on Page 6 of the journal:

20.		Purchased supplies on account, $735.
21.		Provided services on account for the period May 1620, $4,820.
25.		Received cash from cash clients for fees earned for the period May 1723, $7,900.
27.		Received cash from clients on account, $9,520.
28.		Paid part-time receptionist for two weeks' salary, $750.
30.		Paid telephone bill for May, $260.
31.		Paid electricity bill for May, $810.
31.		Received cash from cash clients for fees earned for the period May 2631, $3,300.
31.		Provided services on account for the remainder of May, $2,650.
31.		Kelly withdrew $10,500 for personal use.

Instructions

1. The chart of accounts for Kelly Consulting is shown in Exhibit 9, and the post-closing trial balance as of April 30, 2020, is shown in Exhibit 17. For each account in the post-closing trial balance, enter the balance in the appropriate Balance column of a four-column account. Date the balances May 1, 2020 and place a check mark () in the Posting Reference column. Journalize each of the May transactions in a two-column journal starting on Page 5 of the journal and using Kelly Consulting's chart of accounts. (Do not insert the account numbers in the journal at this time.)

2. Post the journal to a ledger of four-column accounts.

3. Prepare an unadjusted trial balance.

4. At the end of May, the following adjustment data were assembled. Analyze and use these data to complete parts (5) and (6).

1. Insurance expired during May is $275.

2. Supplies on hand on May 31 are $715.

3. Depreciation of office equipment for May is $580.

4. Accrued receptionist salary on May 31 is $325.

5. Rent expired during May is $2,215.

6. Unearned fees on May 31 are $8,210.

5. (Optional) Enter the unadjusted trial balance on an end-of-period spreadsheet and complete the spreadsheet.

6. Journalize and post the adjusting entries. Record the adjusting entries on Page 7 of the journal.

7. Prepare an adjusted trial balance.

8. Prepare an income statement, a statement of owner's equity, and a balance sheet.

9. Prepare and post the closing entries. Record the closing entries on Page 8 of the journal. Indicate closed accounts by inserting a line in both Balance columns opposite the closing entry.

10. Prepare a post-closing trial balance.

Exhibit 9

Kelley Consulting Adjusted Trial Balance April 30, 2020 Credit Cash Accounts Receivable Supplies Prepaid Rent Prepaid Insurance Office Equipment Accumulated Depreciation Accounts Payable Salaries Payable Unearned Fees Kelly Pitney, Capital Debit $22,100 $3,400 $1,350 $3,200 $150 $14,500 $330 $800 $120 $2,500 $42,300 $46,050 $46,050 Chart of Accounts for Kelly Consulting 11 Cash 12 Accounts Receivable 14 Supplies 15 Prepaid Rent 16 Prepaid Insurance 18 Office Equipment 19 Accumulated Depreciation 21 Accounts Payable 22 Salaries Payable 23 Unearned Fees 31 Kelly Pitney, Capital 32 Kelly Pitney, Drawing 41 Fees Earned 51 Salary Expense 52 Rent Expense 53 Supplies Expense 54 Depreciation Expense 55 Insurance Expense 59 Miscellaneous Expense