Accounting Cyele Project For the past several years, Simon Jones has operated a part-time consulting business from his home in Huntsville, AL. As of September 1, 2020, Simon decided to move to rented quarters and to operate the business, which was to be known as Jones Consulting, on a full-time basis. Jones Consulting entered into the following transactions: Sept. I. The following assets were received from Simon Jones: cash, $20,000, accounts receivable, S14,700, supplies, $3,300, and office equipment, $12,000. The following liabilities were also received: accounts payable, $3,300, salaries payable, $590, and utilities payable, $110. Sept. 1. Paid 3 months' rent on a lease rental contract, $6,000. Sept. 2. Paid the premiums on property and casualty insurance policies for one year, $4,200. Sept. 4. Received cash from clients as an advance payment for services to be provided and recorded it as unearned fees, $9,400. Sept. 5. Purchased additional office equipment on account from Smith Ofice Supply Co., $8,000. Sept. 6. Received cash from clients on account, $11,700. Sept. 10. Paid cash for a newspaper advertisement, $350. Sept. 12. Paid Smith Office Supply Co. for part of the debt incurred on Sept. 5, $6,400. Sept. 12. Provided services on account for the period September 1-12, $21,900. Sept. 14. Paid receptionist for two weeks' salary, $1,650. Sept. 17. Received cash from cash clients for fees earned during the period September 1- 16, $6,600. Sept. 18. Paid cash for supplies, $725. Sept. 20. Provided services on account for the period September 13-20, $16,800. Sept. 24. Received cash from cash clients for fees earned for the period, September 17-24, $4,450. 1|P Sept. 26. Received cash from clients on account, $26,500. Sept. 27. Paid receptionist for two weeks' salary, $1,650. Sept. 29. Paid telephone bill for September, $540. Sept. 31. Paid electricity bill for September, $760, Sept. 31. Received cash from cash clients for fees carned for the period, September 25 - 31, $5,160. Sept. 31. Provided services on account for the remainder of September, $2,590. Sept. 31. Simon withdrew $18,000 for personal use. Instruction: Journalize the above transactions in a two-column journal. Use the following account numbers as posting references: 11 Cash 31 Simon Jones - Capital 12 Accounts Receivable 32 Simon Jones - Drawing 14 Supplies 41 Fees Earned 15 Prepaid Rent 51 Salary Expense 16 Prepaid Insurance 52 Rent Expense 18 Office Equipment 53 Supplies Expense 19 Accumulated Depreciation - Office Equipment 54 Depreciation Expense Insurance Expense 21 Accounts Payable 55 22 Salaries Payable 59 Miscellaneous Expense 23 Unearned Fees 61 Utilities payable 25 Advertising Expense 65 Notes Payable