Please Answer only (k) Post Closing Entries to T-Accounts (Ledgers)

CALCULATOR PRINT R VERSION BACK Project 1 R1 For the past several years, Aaron ones as operated a consulting business from his home on a part time basis. As of ecember Progress Consulting entered into the following transactions during December Project 201, Aaron decided to move to rented quarters and incorporate his business as Progress Consulting Inc. 12/1 Aaron Jones invested the following assets in the business: cash, $50,000; supplies, $8,000; and office equipment, $45,000. Mr. Jones received stock in an amount equal to his investment in the corporation Review Score 12/2 Pald $9,000 for rent for December 20x1 through Feoruary 29, 20x2 Review Results by Study Objective 12/3 Paid $10,800 for a one year premium on property and casualty insurance. The policy covers re period December 1, 20X1 to November 30, 202. 12/4 Received $12,000 cash from a client as an advance payment for services to be performed in the future 12/5 Purchased additional office equipment on account from Payne Company for $15,000 12/10 Pald $6,500 for a newspaper advert sement that ran in today's paper. 12/11 Paid Payne Company $4,000 for part of the dest incurred on December 5 12/12 Billed dients for services performed on account, $5,000, 12/17 Received cash payment from client for services performed on this date, 415,000. 12/18 Pald $6,000 for supplles. 12/20 Bled dlients for services performed on account, $16,000 12/24 Received cash payment from client for services performed on this date, $2,000 12/25 Received cash from clients as payment on account, $3,000. 12/30 Pald $B00 for utilities for December 12/31 Paid cash dividend of $6,000