At January 1 (beginning of its fiscal year), Freeman, Incorporated, a financial services consulting firm, reported the following account balances (in thousands, except for par and market value per share):

Cash	$2,010	Accounts payable	$320
Short-term investments	520	Unearned revenue	1,430
Accounts receivable	3,680	Salaries payable	980
Supplies	260	Short-term note payable	890
Prepaid expenses	4,830	Common stock ($1 par value)	160
Office equipment	1,270	Additional paid-in capital	6,670
		Retained earnings	2,120

Received $9,610 cash for consulting services rendered.

Issued 32 additional shares of common stock at a market price of $175 per share.

Purchased $750 of office equipment, paying 20 percent in cash and owing the rest on a short-term note.

Received $1,000 from clients for consulting services to be performed in the next year.

Bought $580 of supplies on account.

Incurred and paid $1,910 in utilities for the current year.

Consulted for clients in the current year for fees totaling $1,730, due from clients in the next year.

Received $3,090 from clients paying on their accounts.

Incurred $6,320 in salaries in the current year, paying $5,410 and owing the rest (to be paid next year).

Purchased $1,340 in short-term investments and paid $910 for insurance coverage beginning in the next fiscal year.

Received $65 in interest revenue earned in the current year on short-term investments.

E3-12 Part 1

Required:

1. Prepare journal entries for each transaction for the current year.