Drake Consulting performs systems consulting and has also begun selling accounting software and uses the perpetual inventory system to account for software inventory. During January 2017, Dunst completed the following transactions:

Drake Consulting had the following selected accounts with account numbers and normal balances:

1. Use the appropriate journal to record the transactions in a sales journal (omit the Invoice No. column), a cash receipts journal, a purchases journal, a cash payments journal (omit the Check No. column), and a general journal.

2. Total each column of the special journals. Show that total debits equal total credits in each special journal.

3. Show how postings would be made from the journals by writing the account numbers and check marks in the appropriate places in the journals. (Assume all postings are made to the applicable ledgers.)

2 Completed a consulting engagement and received cash of $8,900. 2 Prepaid three months office rent, $9,000. 7 Purchased 75 units software inventory on account from Meckle Co. Jan. $1,875, plus freight in, $75. 18 Sold 50 software units on account to Jim Neary, $4,250 (cost $1,300) 19 Consulted with a client, Louis Fitzgerald, for a fee of $2,600 on account. (Use general journal.) Paid employee salaries, $1,950, which includes accrued salaries from December of $650 20 21 Paid Meckle Co. on account, $1,950. There was no discount. 22 Purchased 190 units software inventory on account from Warren Co. $5,510. Received bill and paid utilities, $280. Sold 120 units software for cash, $5,400 (cost $3,405). Recorded the following adjusting entries: a. Accrued salaries expense, $650 b. Depreciation on Equipment, $50; Depreciation on Furniture, $40 c. Expiration of prepaid rent, $3,000 d. Physical count of software inventory, 89 units, $2,581 24 28 31 2 Completed a consulting engagement and received cash of $8,900. 2 Prepaid three months office rent, $9,000. 7 Purchased 75 units software inventory on account from Meckle Co. Jan. $1,875, plus freight in, $75. 18 Sold 50 software units on account to Jim Neary, $4,250 (cost $1,300) 19 Consulted with a client, Louis Fitzgerald, for a fee of $2,600 on account. (Use general journal.) Paid employee salaries, $1,950, which includes accrued salaries from December of $650 20 21 Paid Meckle Co. on account, $1,950. There was no discount. 22 Purchased 190 units software inventory on account from Warren Co. $5,510. Received bill and paid utilities, $280. Sold 120 units software for cash, $5,400 (cost $3,405). Recorded the following adjusting entries: a. Accrued salaries expense, $650 b. Depreciation on Equipment, $50; Depreciation on Furniture, $40 c. Expiration of prepaid rent, $3,000 d. Physical count of software inventory, 89 units, $2,581 24 28 31