During May, Dog Incorporated entered into the following transactions: May 1. Owner invested $25,000 into the business. 3. Received cash from clients as an advance payment for services to be provided and recorded it as unearned fees, $4,500. 5. Received cash from clients on account, $2,450. 9. Paid cash for advertisements, $225. 13. Paid for part of debt incurred on April 5, $640. 15. Provided services on account for the period May 115, $9,180. 16. Paid receptionist for two weeks' salary, $750. 17. Received cash from cash clients for fees earned during the period May 116, $8,360 20. Purchased supplies on account, $735. 25. Received cash from cash clients for fees earned for the period May 1723, $7,900. 27. Received cash from clients on account, $9,520. 28. Paid part-time receptionist for two weeks' salary, $750. 30. Paid telephone bill for May, $260. 31. Received cash from cash clients for fees earned for the period May 2631, $3,300. 31. Dog withdrew $10,500 for personal use.

Instructions

Complete the accounting cycle for the above.

Adjusting entries are below.

Adjusting Entries.

1. Insurance expired during May is $275.

2. Supplies on hand on May 31 are $715.

3. Depreciation of office equipment for May is $330.

4. Accrued receptionist salary on May 31 is $325.

5. Rent expired during May is $1,600.

6. Unearned fees on May 31 are $3,210.