Part 1 Comprehensive Problem 1: The following is a comprehensive problem which encompasses all of the elements learned in previous chapters. You can refer to the objectives for each chapter covered as a review Kelly Pitney began her consulting business, Kelly Consulting, on April 1, 20Y5. The accounting cycle for Kelly Consulting for April, including financial statements, was illustrated in this 11 Cash 31 Kelly Pitney, Capital 12 Accounts Receivable 32 Kelly Pitney, Drawing 14 Supplies 41 Fees Earned 15 Prepaid Rent 51 Salary Expense 52 Rent Expense 53 Supplies Expense 54 Depreciation Expense 55 Insurance Expense 59 Miscellaneous Expense 16 Prepaid Insurance 18 Office Equipment 19 Accumulated Depreciation 21 Accounts Payable 22 Salaries Payable 23 Unearned Fees The post-closing trial balance as of April 30, 20Y5 Required: Journalize each of the May transactions using Kelly Consulting's chart of accounts. (Do not insert the account numbers in the Post. Ref, column of the journal at this time.) If an amount May 3: Received cash from clients as an advance payment for services to be provided and recorded it as unearned fees, $4,500. Description Post. Ref. Debit Credit Cash May 5: Received cash from clients on account, $2,450, Post. Ref. Description May 9: Paid cash for a newspaper advertisement, $225. Description Post. Ref. Check My Work Debit Debit a Credit Credit All work saved F7

Cemprehentive Proliteni.1 Ware Bii Prepare a balarice what, May 3: Received cash from clienta as an advance payment for services to be orovided anit rawinfad w. T5 unearned fees, 54,500. May 5: Recelved cash from clients on account, 52,450 . May 9: Paid cash for a newspaper advertsement, 5225. May 13: Paid Office Station Co. for part of the debt incurred on Apni 5.5640. May 15: Provided services on account for the period May 1-15. 59,180. May 10: Paid part-time receptionist for two weeks' salary including the amount owed on April 30,5750 . May 20: Purchased supplies on account, $735. May 21: Provided services on account for the period May 1620,$4,820 May 25: Received cash from cash elients for fees eamed for the period Moy 1723,57,900. May 27: Received cash from clients on account, 59.520. May 28: Paid part-tme receptioniat for two veeic' salary, $750. May 30: Paid tefephone bell for May $260. May 28: Paid part-time receptionist for two weela' falary $750. May 304 Paid talephene bill for Mays 5260 . May 312 Paid electricity bill for May, $810. May 31 theceived cash from cash clients for fees eamed for the period May 26-3:, 33,300. May 31s Provided services on account for the remainder of May $2,650. May 31: Kelly withdrew 510,500 for personal use