M Jordan Kuhn started her consulting business, Jordan Consulting, on December 1, 2020. During January, Jordan Consulting had the following transactions: January 3 Received cash from clients for payment in advance for services to be provided in February, $2,500 9 Paid cash for advertisement, $300 16 Paid part-time receptionist for salary, $1,100. Note that $120 is payable from December 20 Purchased supplies on account, $400 25 Received cash from clients for services provided, $9,500 30 Paid telephone bill, $250 Required: 1. Record the transactions in the general journal. Please include an explanation for each journal entry 2. Post the journal entries in the general ledger Journal Date Description Page 1 PR Debit Credit The company's trial balance for Jordan Consulting on December 31, 2019 is as follows: These balances have been entered in the general ledger. Debit Credit 1010 Cash 19,170 1020 Accounts Receivable 3,100 1040 850 Supplies 1050 Prepaid Rent 3,200 1080 Office Equipment 14,500 1090 Accumulated Depreciation - Office Equipment 330 2010 Accounts Payable 800 2020 Salaries Payable 120 2030 Unearned Revenue 2,500 3010 Jordan Kuhn, Capital 37,070 3020 Jordan Kuhn, Withdrawals 3030 Income Summary 4010 Service Revenue 5010 Salary Expense 5020 Rent Expense 5030 Supplies Expense 5040 Depreciation Expense 5090 Telephone Expense 40,820 40,820 Jordan Consulting Unadjusted Trial Balance January 31, 2020 Debit Credit Account Name At the end of January, the following adjustments were required. 1. Supplies were $600 on January 31, 2020. 2. Depreciation was calculated for January, $300. 3. Accrued salaries on January 31, $280. 4. Rent was used during January, $1,600 5. Unearned Revenue were earned during January, $3,100. Required: Complete the following worksheet Jordan Consulting Worksheet For the month ended January 31, 2020 Account Name Unadjusted Trial Balance Debit Credit Adjustments Debit Credit Adjusted Trial Balance Debit Credit Required: Prepare an income statement, a statement of owner's equity and a balance sheet from the adjusted trial balance. Jordan Consulting Income Statement For the month ended January 31, 2020 Jordan Consulting Statement of Owner's Equity For the month ended January 31, 2020