ACC 2021 Comprehensive Problem (50 POINTS) This project is a review of the accounting cycle that has been covered during class. Prepare all information in a professional manner and show details as needed. You may complete this on working paper or you may complete it in Excel. Read the entire project and review all information prior to starting On January 2, 2007 Jerry Andrews, a dentist, opened a dental office. The following transactions were completed during the first month of operations. Jan 2 Jan 3 Jan 4 Jan 4 Jan 6 Jan 9 Jan 10 Jan 11 Jan 13 Jan13 Jan 16 Jan 18 Jan 20 Jan 23 Jan 23 Jan 24 Jan 25 Jan 27 Jan 30 Jerry invested $30,000 cash and $13,200 worth of dental equipment in the business in exchange for common stock in a new corporation called J.A. Dentist, Inc. Paid four months rent of $2,000. Purchases $1,000 of dental supplies and paid cash. Paid insurance premiums of $3,600 for a 1-year insurance policy. Earned and collected dental fees of $14,600 in cash during the week. Paid secretary a salary of $1,200. Purchased $300 of dental supplies on account. Bought an automobile for business use. It cost $13,000. Jerry paid $3,000 cash and signed a note payable for the balance. Received a $240 telephone bill that will be paid later. Billed customers $6,000 for dental fees earned during the week. Received a $150 electric bill that will be paid later in the month. Paid $300 for dental supplies purchased on Jan 10. Earned and collected dental fees of $4,500 in cash during the week. Paid $450 for advertising in a local newspaper. Received a $75 water bill that will be paid in February. Paid $450 for advertising in a local newspaper. Received $2,500 from customers on account. Jan 30 Jan 31 Paid a dividend of $3,500 to Jerry Andrew the sole stockholder. Paid the telephone and utility bills. Billed customers $2,000 for dental fees earned during the week. Received $1,500 from customers on account.