am July 1. The following assets were received from Samantha Hogan: cash, $25,700, accounts receivable, $30,200, supplies, $5,100, and office equipment, $12,100. There were no liabilities received. 1. Paid three months' rent on a lease rental contract, $8,100. 2. Paid the premiums on property and casualty insurance policies, 56,100. 3. Received cash from clients as an advance payment for services to be provided and recorded it as unearned fees, $10,800. 5. Purchased additional office equipment on account from Office Necessities Co., 56,900. 6. Received cash from dients on account, $17,300. 10. Paid cash for a newspaper advertisement, $680. 12. Paid Office Necessities Co. for part of the debt incurred on July 5, 54,100. 12. Provided services on account for the period July 1-12, $19,200. 14. Paid receptionist for two weeks' salary, $2,000. Record the following transactions on Page 2 of the journal: 17. Received cash from cash clients for fees earned during the period July 1-17. $14,100. 18. Paid cash for supplies, $1,400. 20. Provided services on account for the period July 13-20, $12,200. 24. Received cash from cash clients for fees earned for the period July 17-24, $11,500. 26. Received cash from clients on account, $16,300. 27. Paid receptionist for two weeks' salary, $2,000, 29. Paid telephone bill for July, $440, 31. Paid electricity bill for July, 8910 31. Received cash from cash clients for fees earned for the period July 25-31, 89,600. 31. Provided services on account for the remainder of July, $7.400 31. Samantha withdrew $27.100 for personal use. I JOURNAL PAGE 2 DATE DESCRIPTION POST REF DEBIT CREDIT 14,100 2 Jullin Cash Fees Earned Jul 18 Supplies 14.100 2 3 3 Cash 1,400 5 1 12,200 2,200 20 Accounts Recewalole 'Fees Earned Juul 24 cash Fues Earned la le lo 1,500 10 SO 1,500 11 11 13 tle,300 16,300 14 2 vul 24 Cash Accounts Receivable Jul salary Expense 75 2,000 2,000 7 18 18 18 18 D 440 0129 Miscellaneous Exp. Cash 440 20 21 910 22 Vul 31 Miscellaneous Exp Cash 910 23 24 Tuul 31 cash 9.600 25 Fees Earned 9,600 20 27 7.400 20 Vol 31 Accounts Receivable fees Earned 7,400 12 NIHA Jun Samantha Hogan, Drawing 27,100 27, 100 JOURNAL PAGE 1 DATE DESCRIPTION POST REF DEBIT CREDIT 2 1 3 Julli cash Accounts Receivable Supplies Office Equipment Samantha Hogan, Capital Vulll Prepaid Rent Cash 25,700 20.200 5100 12,100 73,1oo. 6 0 11 6,100 B 16 GB 16 llloll 12 13 10,900 14 10,300 14 15 15 17 UL 2 Prepeld Insurance cash Jul3 Cash Unearned fees arned Jul 5 0ffice Equipment Accounts Payable Jul 6 Cash Accounts Receivable VI Advertisement Exp. Cash Jul 12 Accounts Payable Cash 18 le 900 6,900 11.300 17,300 10 20 20 27 NININ 1816 680 23 24 4,100 4.100 INN 28 7 Vul 12 Accounts Receivable Fees Earned 199 200 19,200 Joi 14 salary Expense 2.000 2,ooo 2: Post the journal to the ledger (this is your colored papers). 3: Prepare an unadjusted Trail balance (this is done for you on the pink paper) Chapter 4 Completing the Accounting Cycle 2. Post the journal to a ledger of four-column accounts. 3. Prepare an unadjusted trial balance. 4. At the end of July, the following adjustment data were assembled. Analyze and use these data to complete parts (5) and (6), 1. Insurance expired during July is $510. b. Supplies on hand on July 31 are 53,900. c. Depreciation of office equipment for July is $510, d. Accrued receptionist salary on July 31 is $190. e. Rent expired during July is $2,700. f. Linearned fees on July 31 are $4,100. 5. (Optional) Enter the unadjusted trial balance on an end-of-period spreadsheet and complete the spreadsheet 6. Journalize and post the adjusting entries. Record the adjusting entries on Page 3 of the journal 7. Prepare an adjusted trial balance 8. Prepare an income statement, a statement of owner's equity, and a balance sheet, 9. Prepare and post the closing entries. Record the closing entries on Page 4 of the journal Indicate closed accounts by inserting a line in both Balance columns opposite the closing entry 10. Prepare a post-closing trial balance