3. Net Income 533475 PR 4-5A Complete accounting cycle TIMATE received 215 for the past several years Stetty opwas operated particuling isines from his new which was to be known Diamond Continentale hos Damond entered into the following transactions during July duly The following users were received from starty oprin exchange for common took can som accounts receivable, 520, 53.200, and office equiomet. 57.500. There 1. Pald two months runt on a lease rental contract, 54.00 2. Paid the premium on property and culty insurance poloer. 54.560 4. Received cash from clients as an advance payment for services to be provided and recorded unearned fees, 55.500 Purchased additional office equipment on account for ce Station Co. 4.500 6. Received cash from clients on account, 515,300 10. Paid cash for a newspaper advertisement. 5400 12. Pald Office Station Co for part of the debt incurred on My S.55.200 12. Recorded services provided on account for the period July 1-12.513,300 14 Paid reception for two weeks'salary, 51,750 Record the following transactions on Page 2 of the journal 17. Recorded cash from cash dients for fees earned during the period July 1-17.59A50 18. Pald cash for supplies, 5600 20. Recorded services provided on account for the period July 13-20,56,650 24. Recorded cash from cash clients for fees eamed for the period July 17-24.54.000 26. Received cash from clients on account: $12.000 27. Paid receptionist for two weeks'salary, 51.750 29. Paid telephone bill for July, 5325 31. Pald electricity bill for July, 5675 31. Recorded cash from cash clients for fees med for the period July 25-31.55.200 31. Recorded services provided on account for the remainder of July, 53,000 31. Pald dividends $12.500. Instructions 1. Journalize each transaction in a two-column al starting on Page 1, referring to the following chart of accounts in selecting the accounts to be debited and credited. (Do not insert the account numbers in the journal at this time.) 11 Cash 31 Common Stock 12 Accounts Receivable 32 Retained Earnings 33 Dividends 14 Supplies 41 Fees Earned 15 Prepaid Rent 16 Prepaid Insurance 51 Salary Expense 52 Rent Expense 18 Office Equipment 19 Accumulated Depreciation 53 Supplies Expense 21 Accounts Payable 54 Depreciation Expense 55 Insurance Expense 22 Salaries Payable 59 Miscellaneous Expense 23 Unearned Fees 2. Post the journal to a ledger of four-column accounts. 3. Prepare an uradjusted trial balance. (Continued