CHECK FIGURE: $168,250 DEBIT/CREDIT

ML Clyde is a licensed CPA. During the first month of operations of her business, the following events and transactions occurred. April 2 Invested $130,000 cash and computer equipment valued at $18,000 in exchange for common stock. 2 Hired a part-time administrative assistant at a salary of $750 per week payable at the end of each month. 3 Purchased office supplies on account $500. (Record as an asset.) 7 Paid office rent of $3,000 for the month. 11 Completed a tax return and billed the client $5,000 for services rendered. 12 Received $6,500 advance payment for a management consulting engagement that begins in June. 17 Received cash of $7,500 for services completed for Fox Co.. 21 Paid insurance expense of $2,400. 30 Paid administrative assistant $3,000 for the month. 30 A count of supplies indicated that $200 of supplies had been used. 30 Collected the amount owed from client for services provided on April 11. 30 Declared a $750 dividend. Required: 1. Journalize the transactions using the journal provided below. If no entry is required for an item, note the rationale for omitting an entry