On July 31, 2016, after one month of operation, the general ledger of Michael Domenici, Consultant, contained the accounts and balances given below. ACCOUNTS AND BALANCES Cash 24,710 Dr Accounts Receivable 1.280 Dr Supplies 800 Dr. Prepaid Rent 8,100 Dr. Prepaid Insurance 1,260 Dr. Prepaid Interest 336 Dr. 12,824 Dr. Furniture Accumulated Depreciation Furniture Equipment 5,890 Dr. Accumulated Depreciation Equipment 16,100 Cr Notes Payable 3,900 Cr Accounts Payable Interest Payable Unearned Consulting Fees 4,080 Cr. 28,040 Cr Michael Domenici, Capital Michael Domenici, Drawing 1,400 Dr. Consulting Fees 7,400 Cr. Salaries Expense 2,600 Dr. Utilities Expense 190 Dr. 130 Dr. Telephone Expense Supplies Expense Rent Expense Insurance Expense Depreciation Expense Furniture Depreciation Expense Equipment Interest Expense ADJUSTMENTS a. On July 31, an inventory of the supplies showed that items costing $550 were on hand. b. On July 1, the firm paid $8,100 in advance for six months of rent. c. On July 1, the firm purchased a one-year insurance policy for $1,260. d. On July 1, the firm paid $336 interest in advance on a four-month note that it issued to the bank. e. On July 1, the firm purchased office furniture for $12,824. The furniture is expected to have a useful life of eight years and a salvage value of $1,400. f. On July 1, the firm purchased office equipment for $5,890. The equipment is expected to have a useful life of five years and a salvage value of $1,450 g. On July 1, the firm issued a three-month, 8 percent note for $6,600. h. On July 1, the firm received a consulting fee of $4,080 in advance for a one-year period. 3. Complete the worksheet