A group of accounting students has started a part-time virtual bookkeeping business. As of September 1, 2022, the group decided to incorporate their business, move into a rented office space and operate the business on a full-time basis.

General ledger Sep 1. The following assets were contributed to the business by the shareholders (group members) in exchange for common stock: $12,000; accounts receivable, $3,000; supplies, $500; and office equipment, $15,500. 1. Borrowed $10,000 from a business line of credit (use account #24 Business Line of Credit Payable) 1. Paid three months rent on a lease rental contract, $4,800. 2. Paid the premiums on property and casualty insurance policies, $1,800. 4. Received cash from clients as an advance payment for services to be provided and recorded it as unearned fees, $5,000. 5. Purchased additional office equipment on account from Office Depot Co., $2,000. 6. Received cash from clients on account, $1,800. 10. Paid cash for a newspaper advertisement, $120. 12. Paid Office Station Co. for part of the debt incurred on September 5, $1,200. 12. Recorded services provided on account for the period September 112, $4,200. 14. Paid part-time receptionist for two weeks salary, $750. 17. Recorded cash from cash clients for fees earned during the period September 116, $6,250. 18. Paid cash for supplies, $800. 20. Recorded services provided on account for the period September 1320, $2,100. 24. Recorded cash from cash clients for fees earned for the period September 1724, $3,850. 26. Received cash from clients on account, $5,600. 27 Paid part-time receptionist for two weeks salary, $750. 29. Paid telephone and internet bill for September, $130. 30. Paid electricity bill for September, $200. 30. Recorded cash from cash clients for fees earned for the period September 2530, $3,050. 30. Recorded services provided on account for the remainder of September, $1,500. 30 Paid dividends, $6,000. The chart of accounts for your consulting business is shown in Exhibit A. REQUIREMENTS: 1. Use Microsoft Office Excel application to create the charts of accounts, general journal, four-column general ledgers, end-of-period spreadsheet, unadjusted trial balance, adjusted trial balance, post-closing trial balance, income statement, retained earnings statement, and balance sheet. 2. Record September transactions on Page 1 of the general journal.