Comprehensive Problem 1 Part 1: The following is a comprehensive problem which encompasses all of the elements learned in previous chapters. You can refer to the objectives for each chapter covered as a review of the concepts. Kelly Pitney began her consulting business, Kelly Consulting, on April 1, 2018. The chart of accounts for Kelly Consulting is shown below: 11 Cash 12 Accounts Receivable 14 Supplies 15 Prepaid Rent 16 Prepaid Insurance 18 Office Equipment 32 Retained Earnings 33 Dividends 41 Fees Earned 51 Salary Expense 52 Rent Expense 53 Supplies Expense 19 Accumulated Depreciation 54 Depreciation Expense 21 Accounts Payable 22 Salaries Payable. 23 Unearned Fees 55 Insurance Expense 59 Miscellaneous Expense 31 Common Stock The post-closing trial balance as of April 30, 2018, is shown below: Kelly Consulting Post-Closing Trial Balance April 30, 2018 The post-closing trial balance as of April 30, 2018, is shown below: Kelly Consulting Post-Closing Trial Balance. April 30, 2018 Account No. Debit. Credit Cash Accounts Receivable 11 22,100 12 3,400 Supplies: Prepaid Rent 14 1,350 15 3,200 Prepaid Insurance 16 1,500 Office Equipment 18 14,500 Accumulated Depreciation 19 330 Accounts Payable 21 800 Salaries Payable 22 120 Unearned Fees 23 2,500 Common Stock 31 30,000 Retained Earnings 32 12,300 46,050 46,050 Journalize each of the May transactions using Kelly Consulting's chart of accounts. (Do not insert the account numbers in the Post. Ref. column of the journal at this time.) If an amount box does not require an entry, leave it blank. May 3: Received cash from clients as an advance payment for services to be provided and recorded it as unearned fees, $4,500. Description Post. Ref. May 5: Received cash from clients on account, $2,450. Description Post. Ref. Debit Credit Debit Credit May 9: Paid cash for a newspaper advertisement. $225. Description Post. Ref. Debit Credit May 13: Paid Office Station Co. for part of the debt incurred on April 5. $640. Description Post. Ref. Debit Credit May 13: Paid Office Station Co. for part of the debt incurred on April 5, $640. Description Post. Ref. Debit Credit May 15: Recorded services provided on account for the period May 1-15, $9,180. Description Post. Ref.. Debit Credit May 16: Paid part-time receptionist for two weeks' salary including the amount owed on April 30, $750. Description: Post. Ref. Debit Credit May 17: Recorded cash from cash clients for fees earned during the period May 1-16. $8,360. Description Post. Ref. Debit Credit May 17: Recorded cash from cash clients for fees earned during the period May 1-16, $8,360. Description Post. Ref. Debit Credit May 20: Purchased supplies on account, $735. Description Post. Ref. Debit Credit May 21: Recorded services provided on account for the period May 16-20, $4,820, Description Post. Ref. Debit Credit May 25: Recorded cash from cash clients for fees earned for the period May 17-23, $7,900, Description Post. Ref. Debit Credit May 25: Recorded cash from cash clients for fees earned for the period May 17-23, $7,900. Description Post. Ref. Debit May 27: Received cash from clients on account, $9,520. Description Post. Ref. Credit Debit Credit May 28: Paid part-time recephonist for two weeks' salary, $750. Description Post. Ref. May 30: Paid telephone bill for May, $260. Description Debit Credit Post. Ref. Debit Credit ^ May 31: Paid electricity bill for May, $810. Description Post. Ref. Debit Credit May 31: Recorded cash from cash clients for fees earned for the period May 26-31, $3,300. Description Post. Ref. Debit Credit May 31: Recorded services provided on account for the remainder of May, $2.650. Description May 31: Paid dividends, $10,500. Description Post. Ref. Debit Credit Post. Ref. Debit Credit