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O Required information The following information applies to the questions displayed below.) In January, Tongo, Incorporated, a branding consultant, had the following transactions. a. Received

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O Required information The following information applies to the questions displayed below.) In January, Tongo, Incorporated, a branding consultant, had the following transactions. a. Received $15,400 cash for consulting services rendered in January b. Issued common stock to investors for $13,500 cash. c. Purchased $13,300 of equipment, paying 25 percent in cash and owing the rest on a note due in 2 years. d. Received $10,550 cash for consulting services to be performed in February e. Bought and received $1,660 of supplies on account. f. Received utility bill for January for $1,560, due February 15. g. Consulted for customers in January for fees totaling $23,400, due in February h. Received $17,300 cash for consulting services rendered in December 7. Paid $830 toward supplies purchased in (e). Required: For each transaction, post the effects to the appropriate T-accounts. Cash Account Receivablo Debit Credit Debit Credit January 1 16,000 January 1 18,400 January 31 16.000 January 31 18.400 Supplies Equipment Debit Credit Debit Credit January 1 1,250 January 1 5,900 January 31 1,250 January 31 5,900 Debit Accounts Payable Credit 5,800 Debit Deferred Revenue Credit 4,000 January 1 January 1 January 31 5,800 January 31 4,000 Notes Payable Debit Credit Debit Common Stock Credit 15,500 January 1 January 1 January 31 January 31 15,500 Retained Earnings Service Revenue Debit Credit Debit Credit January 1 16,250 January 1 Required information January 31 5,800 January 31 4,000 Notes Payable Common Stock Debit Credit Debit Credit of 2 January 1 January 1 15,500 ped January 31 January 31 15,500 Service Revenue Retained Earnings Credit 16,250 ook Debit Debit Credit January 1 January 1 int January 31 16,250 January 31 Utilities Expense Debit Credit January 1 January 31 0

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