PR 4-5A Complete accounting cycle OBJ. 4,5 For the past several years, Jolene Upton has operated a part-time consulting business from her home. As of July 1, 2019, Jolene decided to move to rented quarters and to op- erate the business, which was to be known as Gourmet Consulting, on a full-time basis. Gourmet Consulting entered into the following transactions during July: July 1. The following assets were received from Jolene Upton: cash, $19,000; accounts receivable, $22,300; supplies, $3,800; and office equipment, $8,900. There were no liabilities received. 1. Paid three months' rent on a lease rental contract, $6,000. 2. Paid the premiums on property and casualty insurance policies, $4,500. 4. Received cash from clients as an advance payment for services to be provided and recorded it as unearned fees, $8,000. 5. Purchased additional office equipment on account from Office Necessities Co., $5,100. 6. Received cash from clients on account, $12,750. 10. Paid cash for a newspaper advertisement, $500. 12. Paid Office Necessities Co. for part of the debt incurred on July 5, $3,000. 12. Provided services on account for the period July 1-12, $14,200. 14. Paid receptionist for two weeks' salary, $1,500. Record the following transactions on Page 2 of the journal: 17. Received cash from cash clients for fees earned during the period July 1-17, $10,400. 18. Paid cash for supplies, $1,000. 20. Provided services on account for the period July 1320, $9,000. 24. Received cash from cash clients for fees earned for the period July 17-24, $8,500. 26. Received cash from clients on account, $12,000. 27. Paid receptionist for two weeks' salary, $1,500. 29. Paid telephone bill for July, $325. 31. Paid electricity bill for July, $675. 31. Received cash from cash clients for fees earned for the period July 25-31, $7,100. 31. Provided services on account for the remainder of July, $5,500. 31. Jolene withdrew $20,000 for personal use. (Continued)