Instructions

basis. Diamond entered into the following transactions during July:

Jul. $1$ The following assets were received from Steffy Lopez in exchange for common stock: cash, $$12,500$;

accounts receivable, $$20,800$; supplies, $$3,100$; and office equipment, $$7,500.$ There were no liabilities

received.

$1$ Paid two months' rent on a lease rental contract, $$4,800.$

$2$ Paid the premiums on property and casualty insurance policies, $$4,500.$

$4$ Received cash from clients as an advance payment for services to be provided, and recorded it as

unearned fees, $$5,500.$

$5$ Purchased additional office equipment on account from Office Station Co$.,$ $$6,500.$

$6$ Received cash from clients on account, $$15,300.$

$10$ Paid cash for a newspaper advertisement, $$400.$

$12$ Paid Office Station Co$.$ for part of the debt incurred on July $5,$$$5,200.$

$12$ Recorded services provided on account for the period July $1-12,$$$13,300.$

$14$ Paid receptionist for two weeks' salary, $$1,700.$

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

Jul. $17$ Recorded cash from cash clients for fees earned during the period July $1-17,$ $$9,450.$

$18$ Paid cash for supplies, $$600.$

$20$ Recorded services provided on account for the period July $13-20,$$$6,650.$

$24$ Recorded cash from cash clients for fees earned for the period July $17-24,$$$5,000.$

$26$ Received cash from clients on account, $$12,000.$

$27$ Paid receptionist for two weeks' salary, $$1,700.$

$29$ Paid telephone bill for July, $$400.$