Kelly Pitney began her consulting businiess, Kelly Consulting, on April 1, 2016 m. counting Cycle for Krily Consulting for April, including finsancial statements, Dar illuse in thly chapter: During May. Kelly Consulting eotered into the following transactores May 3. Received cash from clients as an advance payment for services to be providee and recorded it as unearned fecs, 51,500. 5. Reccived cash from clients on account, 52,140 9. Paid cash for a newspaper adverticement, 5225 13. Paid Office Statican Co. for part of the debe incurred on April 5, 5640 15. Recorded services provided on account for the period Mtay 1-15, \$9,180 16. Paid part-time receptionist for rwo wecks' salary including the amount owed os April 30,5750. 17. Recorded cash from cash clicnts for fees carned during the period May 1-16. 58.360 Rocond the following transactions on Page 6 of tbe journal. 20. Purchased supplies on account, 5735. 21. fecorded services prowided on account for the period May 16-20, $4,820 25. Recorded cash from cash clients for fees earned for the period May 17-23, 57,901 27. Received cash from clients on account, 59.520 . 28. Paid part-time receptionist for rwo weeks salary, $750. 30. Paid telephone bill for May, $260. 31. Paid electricity bill for May, $810. 31. Recorded cash from cash clients for fees earned for the period May 26-31, 53,3m 31. Recorded services provided on account for the remainder of May, $2,650. 31. Kelly withdrew $10.500 for personal use. Instructions 1. The chart of accounts for Kelly Consulting is shown in Exhibit 9, and the post-closith trial balance as of April 30, 2016, is shown in Exhibit 17. For each account in the post-closing trial balance, enter the balance in the appropriate Balance column of a four-column account. Date the balances Mary 1, 2016, and place a check mark (f) in the Posting Reference column. Journalize each of the May transactions in a trocolumn journal starting on Page 5 of the joumal and using Kelly Consulting's chart of accounts. (Do not insert the account numbers in the joumal at this time.) 2. Post the journal to a ledger of four-column accounts. 3. Prepare an unadjusted trial balance. 4. At the end of May, the following adjustment data were assembled. Analyze and ute these data to complete parts (5) and (6). a. Insurance expired during May is $275. b. Supplies on hand on Mary 31 are $715. c. Depreciation of office cquipment for May is $330. d. Accrucd receptionist salary on May 31 is 5325. e. Rent expired during May is $1,600. f. Unearned fees on May 31 are $3,210. 5. (Optional) Enter the unadjusted trial balance on an end-of-period spreadsheet and complete the spreadsheet. 6. Journalize and post the adjusting entries. Record the adjusting entries on Page 7 of the journal. 7. Prepare an adjusted trial balance. 8. Prepare an income statement, a statement of owner's equity, and a balance sheet. 9. Prepare and post the closing entries. Record the closing entries on Page 8 of the journal. (Income Summary is account =33 in the chart of accounts.) Indicate closed accounts by inserting a line in both the Balance columns opposite the closing entry. 10. Prepare a post-closing trial balance