Names US to record the following as journal entries. 1. Choose the best account in your general ledger chart of accounts to record the follow January 1 January 1 January 5 January 8 January 10 January 15 January 15 January 25 January 26 January 30 Purchase a computer for your business for a computer for your business for $900 on account. The computer has a user Pay insurance in the amount of $1,200 for the coming year. None of the insurance has expired yet, so do not expense any until the end of the month Receive $5,000 cash from clients for services to be performed over the next six monde Pay water bill in the amount of $500. Provide services to customers for $2,000 on account. Issue stock for $20,000 cash. Make a $500 payment on the note. Provide services and earn $1,000 of the January 5 transaction Receive $750 from customers for January 10 transaction. Paid the invoice for the computer purchased on January 1. 2. Prepare the following adjusting entries at the end of the month. January 31 January 31 Depreciate your computer for one month. Expense the expired portion of your insurance. 3. Post journal entries to General Ledger accounts. 4. Prepare Trial Balance. 5. Prepare Income Statement. Your company uses the following accounts: No. Account Title 100 Cash 110 Accounts Receivable 120 Computer 130 Accumulated Depreciation - Computer 140 Prepaid Insurance Expense No. Account Title 400 Insurance Expense 410 Utilities Expense 420 Depreciation Expense 500 Service Revenue 200 Accounts Payable 210 Notes Payable 220 Unearned Service Revenue 300 Common Stock 310 Retained Earnings