on account Sulting business in Saskatoon, SK During January 2021, the following transactions took place for the period: A) Jan 2 - Purchased equipment for $70,000 on account by signing a note payable due in 5 years. B) Jan 5 - Provided consulting services to clients during January worth $90,000 $20,000 was received in cash and the remaining balance was on account and will be collected next month. C) Jan 10 - Received an advance cash deposit of $9,000 from a client for consulting work that is scheduled to be completed in February D) Jan 15 - Received supplies for the office costing $11,000. J&G paid $2,000 cash and the remaining balance was E) Jan 31 - Declared and paid a cash dividend of $200,000 F) Jan 31 - Paid cash wages of $7,000 to staff for January wages. In addition to the transactions above, you have been informed by the owners that adjustments are needed on January 31, 2021 due to the following facts G) The administrative department determined that $3,000 of supplies were on hand at January 31, 2021. Note that there were no supplies on the books at the beginning of the period and only the supplies that were received on January 15 (D) are relevant in calculating this adjustment. H) The consulting work contract from journal entry C) above was cancelled by the client. As a result, J&G gets to keep the deposit since it was not refundable and no longer has any future obligation to complete the work (i.e. the deposit is now "eamed" as of January 31, 2021) 1) Depreciation on the equipment during January was calculated to be $12.000 The company owes income taxes to the Government as a result of the January activities noted above. Consider any relevant entries from A-T and assume that the tax rate is 23% Required: Prepare the journal entries for events A-F and the adjusting journal entries for the facts noted in G-J. Journal Entry Excel Format Example (not part of test - demonstrative purp Dr. Cash 1,000 Cr. Contributed Capital 1,000