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Individual Assignment Jane just started her consulting business in Vancouver during 2021: July 1 Jane invested $350,000 in Jane \& Associates July 2 Jane signed office leasing contract $2,000 per month for the next two years July 1 Jane purchased business computers and paid $25,000 in cash July 1 Jane purchased an annual business insurance and paid $12,000 in cash July 18 Jane purchased office furniture and paid $24,000 in cash. Aug 1 Jane hired a receptionist and agreed to pay her $3500 monthly salary. Aug 1 Jane paid her rent Aug 2 Jane spent $500 on social media as marketing expense Sep 1 Jane paid her receptionist salary and office rent Sep 4 Purchased $500 office supplies on account, which is due in 10 days Sep 5 Received a cheque in the amount of $25,000 from her client for the work she's done in Aug. Sep 14 Jane paid her office supplies on account purchase Sep 30 Completed consulting work and billed $29,000 her client for the work. Oct 1 Jane paid her receptionist salary and office rent. Oct 1 Purchased a printer for $3,000 in cash Nov 1 Jane received a one-year bank loan of $25,000 and the interest rate is 5% annually due at maturity. Nov 1 Jane paid her receptionist salary and office rent Nov 12 Jane paid $3,500 for advertising fee to promote her business Nov 14 Purchased $1500 office supplies in cash. Nov 15 Jane received the payment from her client, which she billed out on Sep 30 Nov 16 Jane finished a job and received $35,000 payment in cash Dec 17 Jane signed a $25,000 service contract with client customer and Jane promised to provide next year Required: Prepare journal entry for all transactions above Prepare adjusting entry for - Prepaid insurance $12,000 - Business computers $25,000,5 years useful life and no salvage value - Office furniture $24,000,10 years useful life and $3,000 salvage value - Printer $3,000,3 years useful life and no salvage value - Jane has $200 worth of office supplies left by end of the year - Accrued interest expense, rent and salary expenses Prepare 2021 Financial Statements Prepare Closing Entry for 2021