Accounting Cycle The list below contains the transactions for the John. Miller Advertising Agency for the month of January. 1. On January 1.John Miller invested $6000 in her own adverting agency. 2. Rented an office, paying two months' rent in advance $500. 3. Purchased art equipment for $2200 cash. 4. Purchased office equipment from Equipment for $1800, paying $750 in cash and agreeing to pay the rest next month. 5. Purchased on credit art supplies for $900 and office supplies for $400 from T. Supply Company. 6. Paid T.. Supply Company $500 of the amount owed. 7. Performed a service by placing advertisements for an automobile dealer in the newspaper and collected a fee of $800. 8. Paid $240 for one-year insurance policy. 9. Paid the secretary two weeks' salary, $350. 10. Accepted $520 as an advance fee for art work to be done for another agency 11.Performed a service by placing several advertisements for W. Department Store and A \&A Grocers. The earned fees of $700 and $900, respectively, will be collected next month. 12. John. Miller withdrew $800 from the business for personal living expenses. 13. Paid the secretary two more weeks' salary $350. 14. Paid the utility bill, $50 15. Received a telephone bill, $350. Required: 1. Prepare general journal entries to record John. Miller Advertising Agency's transactions. 2. Post the journal entries to the ledger accounts. 3. Prepare an unadjusted trial balance as of Jan 31,200x. 4. Do adjusting entries below: (1) At the beginning of the month, the John Miller Advertising Agency Paid two month' rent in advance. By Jan 31 ,one-half had expired. (2) John Miller did the art work for various clients during the month using art supplies for $250, and his secretary used office supplies for $100. (3) Assume that the John Miller Advertising Agency estimates the depreciation of art equipment for the month as $35. (4) Assume that, by the end of the month $200 of the art work was done and accepted by the other 1 agency. (5) Assume that, by the end of Jan, the John Miller Advertising Agency's Secretary will have worked three days beyond the last biweekly pay period. The salaries for these three days are $105. (6) Assume that the John Miller Advertising Agency has placed an advertisement for M.T. Company that appears on Jan.31. The fee of $100 for this advertisement, which has been earned but not recorded. (7) This month, one-month insurance policy for $20 should be apportioned. 4. Prepare an adjusted trial balance as of Jan 31,200x. 5. Prepare a balance sheet as of Jan 31,200x. 6. Prepare an income statement for the month of Jan 31,200x. 7. Prepare the statement of Retained Earnings for the month of Jan 31,200x. 8. Journalize the closing entries and post them to the ledger accounts. 9. Prepare a post-closing trial balance as of Jan 31,200x