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Kelly Pitney began her consulting business, Kelly Consulting, on April 1, 2018. The accounting cycle for Kelly Consulting for April, including financial statements, was illustrated

Kelly Pitney began her consulting business, Kelly Consulting, on April 1, 2018. The accounting cycle for Kelly Consulting for April, including financial statements, was illustrated in Chapter 4. During May, Kelly Consulting entered into the following Tranactions:

May 3 Received Cash from clients as an advance payment for services to be provided. $4,500

May 5 Received Cash from clients on account $2,450

May 9 Paid Cash for a newspaper advertisement $225

May 13 Paid Office Station Co. for part of the debt incurred on April 5 $640

May 15 Recorded services provided on account for the period May 1- 15, $90,384

May 16 Paidreceptionist for two weeks' salary, including the amount owed on April 30. $750

May 17 Recorded Cash from cash clients for fees earned during the period May 1 - 16 $8,360

May 20 Purchased supplies on account $735

May 21 Recorded services provided on account for the period May 16 - 20 $4,820

May 25 Recorded cash from cash clients for fees earned for the period May 17 - 23 $7,900

May 27 Received cash from clients on account $67,788

May 28 Paidreceptionist for two weeks' salary $750

May 30 Paid telephone bill for May $260

May 31 Paid electricity bill for May $6,779

May 31 Recorded Cash from cash clients for fees earned for the period May 26 - 31 $3,300

May 31 Recorded services provided on account for the remainder of May $2,650

May 31 Paid Dividends in the amount of $10,500

1. Insurance expired during May 275

2. Supplies on hand on May 31 are715 3. Depreciation of office equipment for May is 330

4. Accrued receptionist salary on May 31 is 325

5. Rent expired during May1,600

6. Unearned fees on May 31 are 3,210

Journalize the transactions for May 2018 Post the journal to the ledger T-accounts prepare an Unadjusted Trial Balance Journalize the adjusting entries(see Above) Post the journal (Adj.Entries) to the ledger T-accounts prepare an Adjusted Trial Balance prepare an Income Statement, Statement of Retained Earnings, and a Balance Sheet for the month of May Journalize and post the closing entries prepare a Post-Closing Trial Balance

Post Closing Trial Balance for April. Use these balances in your ledger when you start May

Cash $27,800

Accounts Receivable 5,400

Supplies 1,350

Prepaid Rent 3,200

Prepaid Insurance 1,500

Office Equipment 14,500

Accumulated Depreciation 330

Accounts Payable 800

Salaries Payable 120

Unearned Fees 2500

Common Stock 30000

Retained Earnings 20000

$ 53,750 53750

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