Manish Cleaning Service Ltd. has been in operation for five years; its fiscal year-end is June 30th. The following transactions occurred in January:

Jan. 1 Paid $3000 for rent of office space in January Jan. 1 A Customer (Jack Inc.) paid $24,000 for cleaning services (1 year in advance) Jan. 7 A customer paid $3,000 for Jan 5th cleaning services Jan. 10 Paid cleaner $3,200 in wages for December (in cash) Jan. 14 Paid $500 for an advertisement run in the local paper for 1 month (assume not pre-paid) Jan. 20 Cleaned 2 offices for customers valued $3,000, the customer agreed to pay next month Jan. 25 Purchased on account $13,350 in supplies to be used starting February for 1 year Jan 30. Record 1-month revenue for Jack Inc.'s cleaning service (related to transaction on Jan 1) Required:

1. Prepare journal entries for each transaction.

Example:

Date Account 1 XX DR

Account 2 XX CR

Explanation...................

2. Prepare Income Statement for January.

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