Elsner Company is a licensed CPA. At December 31, 2017 the post-closing trial balance of the company is as followings: ELSNER COMPANY Post-closing Trial Balance Cash Accounts receivable Supplies Equipment Accounts payable Common Stock Retained earnings December 31, 2017 Debit Credit $7,150 6,000 2,000 15,000 $6,250 20,000 3,900 During January, 2018 there are following transactions: Jan. 11. Paid $2,400 cash for a one-year insurance policy 12. Signed a note to borrow $10,000 from a bank. 17. Purchased $6,000 equipment paying $5,000 in cash and $1,000 on account. 20. Completed a tax assignment and billed client $5,800 for service performed 25. Signed a contract to hire a secretary-receptionist. At January 31, 2018, the information below has been gathered: 1. The note signed on Jan 12 is a 12%, one-year note. 2. A count of supplies on January 31 indicates that supplies of S 500 are on hand. 3. The company pays its employees total salaries of $4,000 per month on 10% of next month. 4. Depreciation on the equipment for January, 2018 is $1,000. Instructions: (a) Journalize the January transactions and prepare the adjusting entries for the month (b) Posting to the ledger accounts (c) Prepare an adjusted trial balance at January 31, 2018 (d) Prepare Income statement, Balance Sheet at Jan 31, 2018