accounting work of Eli's Consulting Services for the month of January 202. Assume that you are the chief accountant for Eli's Consulting Services. During January, the business will use the same types of records and procedures that you learned about in Chapters 1 through 6 . The chart of accounts for Eli's Consulting Services has been expanded to include a few new accounts. Follow the instructions on the Requirements tab to complete the accounting records for the month of January. DATE TRANSACTIONS Jan. 2 Purchased supplies for $14,000; issued Check 1015. 2 Purchased a one-year insurance policy for $16,800. 7 Sold services for $30,000 in cash and $20,000 on credit during the first week of January. 12 collected a total of $8,000 on account fron credit customers during the first week of January. 12 Issued Check 1017 for $7,200 to pay for special pronotional advertising to new businesses on the local radio 13 Collected a total of $9,000 on account from credit customers during the second week of January. station during the month. 14 Returned supplies that were damaged for a cash refund of $1,500. 15 Sold services for $41,400 in cash and $4,600 on credit during the second week of January. 20 Purchased supplies for $10,000 fron White's, Inc.; received Invoice 2384 payable in 30 days. 20 Sold services for $25,060 in cash and $7,000 on credit during the third week of January. 20 Collected a total of $11,200 on account from credi) customers during the third week of january. 21 Issued Check 1018 for $14,130 to pay for maintenance work on the office equipment. 22 Issued Check 1019 for $7,200 to pay for special promotional advertising to new businesses in the tocal 23 Received the monthly telephone bill for $2,050 and paid it with Check 1020. newspaper. 26 Collected a total of $3,200 on account from credit customers during the fourth week of January. 27 Issued Check 1021 for $6,060 to 0fficePlus as payment on account for Invoice 2223. 28 Sent Check 1022 for $5,350 in paynent of the monthly bill for utilities. 29 Sold services for $38,000 in cash and $5,500 on credit during the fourth week of January. 31 Issued Checks 10231027 for $65,60e to pay the nonthly salaries of the regular enployees and three part-time workers. 31 Issued Check 1028 for $24,000 for personal use. 31 Issued check 1029 for $8,300 to pay for maintenance services for the month. 31 Purchased additional equipment for $30,000 from Contemporary Equipnent Company; issued Check 1030 for $20,000 and bought the rest on credit. The equipment has a five-year life and no salvage value, 31 Sold services for $15,200 in cash and $3,246 on credit on January 31. 31 Compute and record the adjustment for supplies used during the month. An inventory taken on January 31 showed ADJUSTMENTS supplies of $9,400 on hand. 31 Compute and record the adjustment for expired insurance for the month. 31 Record the adjustment for one nonth of expired rent of $4,600. 31 Record the adjustment for depreciation of $183 on the old equipment for the month. The first adjustment for depreciation for the new equipment will be recorded in February. Prepare an income statement for the month. Prev 1 of 1 Next ? Prev 1 of 1 Next