For the past several years, AP El has operated a part-time consulting business from his home. As of December 1,2022, AP decided to move to rented quarters and to operate the business, which was to be known as Elington Consulting, on a full-time basis. Elington Consulting entered into the following transactions during December. Transactions: December: 1. AP El deposited $60,000 into Elington Consulting as the sole owner. 1. Elington Consulting purchased supplies, $5,500; and office equipment, $21,500 with a 3 year note payable of $10,000 and the remainder in cash. 2. Paid four months' rent on a lease rental contract, $10,000. 3. Paid cash for a newspaper advertisement, $200. 4. Paid the yearly premium on property and casualty insurance policies, $9,000. 5. Purchased additional office equipment on account from Office Equip Co, $3,500. 6. Received cash from clients as an advance payment for services to be provided in the future, $4,000. 8. AP took clients out for a meal to discuss business, $100 10. Paid Office Equip Co. for part of the debt incurred on the 5th,$2,500 14. Paid cash for supplies, $4000. 15. Recorded services provided on account for the period of the 1t14th,54,500. 16. Paid part-time receptionist for two weeks' salary, $700. 17. Recorded cash from cash clients for services provided during the period of the 116t,$3,000. 19. Received cash from clients on account, $2,000. 21. Recorded services provided on account for the period of the 15th21104,$2,500. 26. Recorded cash from cash clients for services provided for the period of the 17in25,$3,500. 27. Received the electricity bill for the month, $200. (Will pay it later) 28. Paid part-time receptionist for two weeks' salary, $700. 29. Paid water bill for the month, $100. 1. Journalize each transaction in a two-column journal, referring to the following chart of accounts in selecting the accounts to be debited and credited. (Do not insert the account numbers in the journal at this time.)