On January 1, Pulse Recording Studio (PRS) had the following account balances. Accounts Payable $ 8,300 Accounts Receivable 7,200 Accumulated Depreciation-Equipment 6,100 Cash 3,720 Cash Equivalents 1,530 Common Stock 10,200 Deferred Revenue 4,000 Equipment 30,000 Notes Payable (long-term) 12,400 Prepaid Rent 3,060 Retained Earnings 5,030 Supplies 520 The following transactions occurred during January a. Received $2,480 cash on 1/1 from customers on account for recording services completed in December, b. Wrote checks on 12 totaling $4,120 for amounts owed on account at the end of December c. Purchased and received supplies on account on 1/3, at a total cost of $200. d. Completed $4,000 of recording sessions on 1/4 that customers had paid for in advance in December e. Received $4,800 cash on 1/5 from customers for recording sessions started and completed in January Wrote a check on 16 for $4,040 for an amount owed on account. g. Converted $1,050 of cash equivalents into cash on 1/7 h. On 1/15, completed EFTs for $1.440 for employees' salaries and wages for the first half of January Received $2,880 cash on 1/31 from customers for recording sessions to start in February eBook Print Required: 1. Prepare journal entries for the January transactions. Review the General Ledger and the unadjusted Trial Balance Tabs to see the effect of the transactions on the account balances 2. Prepare journal entries for items (-(n) from the bank reconciliation J. The bank deducted $510 for an NSF check from a customer deposited on January 5. k. The check written January 6 has not cleared the bank, but the January 2 payment has cleared. L. The cash received and deposited on January 31 was not processed by the bank until February 1 m. The bank added $4 cash to the account for interest eamed in January n. The bank deducted $1 for service charges. 3. Prepare adjusting Journal entries on 131 in General Journal Tob, these are shown as Items 15 to 21). o Depreciation for the month is $160. . Solaries and wages totaling $2,000 have not yet been recorded for January 16 to 31 9. Prepaid Rent will be fully used up by March 31. Supplies on hand at January 31 were $500 5. Received 5500 invoice for January electricity charged on account to be paid in February but is not yet recorded 1. Interest on the promissory note of $67 for January has not yet been recorded or pald. Income tax of $1,000 on January income has not yet been recorded or paid 4. Review the adjusted Trial Balance as of January 31 5. Prepare an income statement for the period ended January 31 in the income Statement Tob. 6. Prepare a bank reconciliation in the Bank Reconciliation' Tob. 7. Prepare a classified balance sheet as of January 31 in the Balonce Sheet Tab. 8. Using the information from the requirements above, complete the Analysis tab. References halance sheet Analyse Requirement General General Income Journal Bank Trial balance Ledger Statement Reconciliation Using the information from the requirements above, complete the 'Analysis tab. Calculate current ratio at January 31