lting business, which was to be known as KE Consulting, on a full-time basis. KE Consulting entered into the following transactions during December. Transactions: December: 1. Kel El deposited $30,000 into KE Consulting as the sole owner. 1. KE Consulting purchased supplies, $1,500; and office equipment, $15,500. 1. Paid three months' rent on a lease rental contract, $3,300. 2. Paid the yearly premium on property and casualty insurance policies, $7,200. 4. Received cash from clients as an advance payment for services to be provided and recorded it as unearned fees, $5,000. 4. Purchased additional office equipment on account from Office Equip Co., $1,500. 10. Paid cash for a newspaper advertisement, $120. 15. Paid Office Equip Co. for part of the debt incurred on December 4, $1,100. 15. Paid part-time receptionist for two weeks' salary, $600. 17. Recorded cash from cash clients for fees earned during the period December 1-16, S4,250. 18. Paid cash for supplies, $500 22. Recorded services provided on account for the period December 15-22, $2,100. 25. Recorded cash from cash clients for fees earned for the period December 17-25, $1,850. 26. Received cash from clients on account, $2,600. 28. Paid part-time receptionist for two weeks' salary, $600. 29. Paid water bill for December, $35 30. Received the electricity bill for December, $224. (Will pay it later) 30. Recorded cash from cash clients for fees earned for the period December 26-30, $3,250. 30. Recorded services provided on account for the remainder of December, $1,200. 30. Kel El withdrew $4,000 for personal use