Mike Shaw began his contracting business, Mike Shaw Contractors, on April 1, 2017. The post-closing trial balance for Mike Shaw Contractors for April is down below. During May, Mike Shaw Contractors entered into the following transactions: May Received cash from clients as an advance payment for services to be 3. provided and recorded it as unearned fees, $4,500. 5. Received cash from clients on account, $2,450. 9. Paid cash for a newspaper advertisement, $225. 13. Paid Office Station Co. for part of the debt incurred on April 5, $640. 15. Recorded services provided on account for the period May 1-15, $9,180. 16. Paid part-time receptionist for two weeks' salary including the amount owed on April 30, $750. 17. Recorded cash from cash clients for fees earned during the period May 1-16, $8,360. Record the following transactions on Page 6 of the journal: 20. Purchased supplies on account, $735. 21. Recorded services provided 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, $7,900. 27. Received cash from clients on account, $9,520. 28. Paid part-time receptionist for two weeks' salary, $750. Paid telephone bill for May, $260. 30. Paid electricity bill for May, $810. 31. 31. Recorded cash from cash clients for fees earned for the period May 26-31, $3,300. 31. Recorded services provided on account for the remainder of May, $2,650. 31. Mike Shaw withdrew $10,500 for personal use. Chart of Accounts for Mike Shaw Contractors Cash Mike Shaw, Capital 11 31 12 Accounts 32 Mike, Shaw, Drawing Income Summary Receivable Supplies Prepaid Rent Prepaid Insurance Office Equipment Accumulated 14 33 15 41 Fees Earned 16 51 Salary Expense Rent Expense Supplies Expense 18 52 19 53 Depreciation Accounts Payable 21. 54 Depreciation Insurance Expense Miscellaneous Expense Salaries payable Unearned Fees 22 55 23 59 Post-Closing Trial Balance, Mike Shaw Contractors Mike Shaw Contractors Post-Closing Trial Balance April 30, 2017 Debits Credits 22,100 3,400 1,350 3,200 1,500 14,500 Cash Accounts Receivable Supplies Prepaid Rent Prepaid Insurance Office Equipment Accumulated Depreciation Accounts Payable Salaries Payable Unearned Fees Mike Shaw, Capital 330 800 120 2,500 42,300 46,050 46,050 Totals Instructions: 1. The chart of accounts and post-closing trial balance (April 2017) for Mike Shaw Contractors is shown below. 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 May 1, 2017, and place a check mark in the Posting Reference column. Journalize each of the May transactions in a two-column journal starting on Page 5 of the journal and using Mike Shaw's chart of accounts. (Do not insert the account numbers in the journal at this time.) (10 points) 2. Post the journal to a ledger of four column accounts. (40 points) 3. Prepare an unadjusted trial balance. (10 points)