lebiet ACC 185 HOMEWORK LMK Reach Consulting is a tax consulting company. The company plans to prepare a monthly financial statement. During July, the company completed the following transactions: 07/01 The owner of LMK Reach Consulting invested $500,000 cash along with computer equipment that had a market value of $120,000 two years ago but was now worth $100,000 only 07/02. 07/04. 07/07. 07/10. 07/12. 07/15 Paid $15,000 cash for the rent of office space for the month. Purchased $12,000 of additional equipment on credit (due within 30 days) Completed a work for a client and immediately collected the $32,000 cash Completed work for a client and sent a bill for $27,000 to be paid within 30 days Purchased additional equipment for $8,000 in cash. Paid an assistant $6,200 cash as wages for 15 days. Collected $15,000 on the amount owed by the client Paid $12,000 cash to settle the liability on the equipment purchased. Owner withdrew $5,000 cash for personal use 07/18. 07/25, 07/28. 07/30. Completed work for another client who paid only $40,000, which is 50% of work done. The client promised to pay the balance in September Paid salary of $7,700 The company received Phone bill of $1,800 and Gas bill $3,800 for the month of July, but 07/31 07/31. paid in August Prepare e Journal entries Ledger entries Trial balance . Income Statement .Earning Income Statement Balance Sheet Note: This homework is due by March 14, 2017. There will be no excuse for not doing this