For the past several years, Samantha Hogan has operated a part$-$time consulting business from her home. As of July $1,20$Y$9,$ Samantha decided to move to rented quarters and to operate the business, which was to be known as Arborvite Consulting, on a full$-$time basis. Arborvite Consulting entered into the following transactions during July:

Jul. $1$ The following assets were received from Samantha Hogan: cash, $$25,700$; accounts receivable, $$30,200$; supplies, $$5,100$; and office equipment, $$12,100.$ There were no liabilities received.

$1$ Paid three months$$ rent on a lease rental contract, $$8,100.$

$2$ Paid the premiums on property and casualty insurance policies, $$6,100.$

$3$ Received cash from clients as an advance payment for services to be provided and recorded it as unearned fees, $$10,800.$

$5$ Purchased additional office equipment on account from Office Necessities Co$.,$ $$6,900.$

$6$ Received cash from clients on account, $$17,300.$

$10$ Paid cash for a newspaper advertisement, $$680.$

$12$ Paid Office Necessities Co$.$ for part of the debt incurred on July $5,$ $$4,100.$

$12$ Provided services on account for the period July $112,$ $$19,200.$

$14$ Paid receptionist for two weeks$$ salary, $$2,000.$

Record the following transactions on Page $2$ of the journal:

Jul. $17$ Received cash from cash clients for fees earned during the period July $117,$ $$14,100.$

$18$ Paid cash for supplies, $$1,400.$

$20$ Provided services on account for the period July $1320,$ $$12,200.$

$24$ Received cash from cash clients for fees earned for the period July $1724,$ $$11,500.$

$26$ Received cash from clients on account, $$16,300.$

$27$ Paid receptionist for two weeks$$ salary, $$2,000.$

$29$ Paid telephone bill for July, $$440.$

$31$ Paid electricity bill for July, $$910.$

$31$ Received cash from cash clients for fees earned for the period July $2531,$ $$9,600.$

$31$ Provided services on account for the remainder of July, $$7,400.$

$31$ Samantha withdrew $$27,100$ for personal use.

Required:

$1.$ Journalize each transaction in a two$-$column journal starting on Page $1,$ referring to the chart of accounts in selecting the accounts to be debited and credited. $($Do not insert the account numbers in the journal at this time.$)$

$2.$ Post the July transactions.

A$.$ Download the spreadsheet in the Ledger panel and save the Excel file to your computer. Use the spreadsheet to post the July transactions from the journal to a ledger of four$-$column accounts. Be sure to save your work in Excel as it will be used to complete the following steps in Part $1$ of this problem as well as steps in Part $2$ of this problem. Your input into the spreadsheet will not be included in your grade in CengageNOW on this problem.

B$.$ Add the appropriate posting reference to the journal in CengageNOW.

$3.$ Prepare an unadjusted trial balance. Accounts with zero balances can be left blank.

$4.$ At the end of July, the following adjustment data were assembled. Analyze and use these data to complete requirements $(5)$ and $(6).$

$$ Insurance expired during July is $$510.$

$$ Supplies on hand on July $31$ are $$3,900.$

$$ Depreciation of office equipment for July is $$540.$

$$ Accrued receptionist salary on July $31$ is $$190.$

$$ Rent expired during July is $$2,700.$

$$ Unearned fees on July $31$ are $$4,100.$

$5.($Optional$)$ On your own paper or spreadsheet, enter the unadjusted trial balance on an end$-$of$-$period work sheet and complete the spreadsheet. Find a blank end$-$of$-$period work sheet in the Excel spreadsheet you previously downloaded.

$6.$

A$.$ Journalize the adjusting entries on page $3$ of the journal. Adjusting entries are recorded on July $31.$

B$.$ Use the attached spreadsheet in the Ledger panel to post the adjusting entries to the ledger of four$-$column accounts, inserting balances is the accounts affected. Add the appropriate posting reference to the adjusting entries in the journal in CengageNOW.

$7.$ Prepare an adjusted trial balance.