Prepare journal entries for each transaction and identify the financial statement impact of each entry. The financial statements are automatically generated based on the journal entries recorded.

Assume Perry Services began the year with the following balances: Cash, $86,000; Accounts receivable, $12,700; and Common stock, $98,700.

Jan.		1		Kathy Perry invested $22,700 cash in the company in exchange for common stock.
Jan.		2		The company provided services to a client and immediately received $9,000 cash.
Jan.		3		The company received $12,700 cash from a client in payment for services to be provided next year.
Jan.		4		The company received $8,900 cash from a client in partial payment of accounts receivable.
Jan.		5		The company borrowed $18,500 cash from the bank by signing a note payable.

2) (JAN 02) January 2 - The company provided services to a client and immediately received $9,000 cash.

3) (JAN 03) January 3 - The company received $12,700 cash from a client in payment for services to be provided next year.

4) (JAN 04) January 4 - The company received $8,900 cash from a client in partial payment of accounts receivable.

5) (JAB 05) January 5 - The company borrowed $18,500 cash from the bank by signing a note payable.

THESE are the option for every table 1 through 5

another half part of this table

Requirement General Journal General Ledger Trial Balance Income Statement St Retained Earnings Balance Sheet General Journal Tab - For each transaction, prepare the required journal entry on the General Journal tab. List debits before credits. General Ledger Tab - One of the advantages of general ledger software is that posting is done automatically. To see the detail of all transactions that affect a specific account, or the balance in an account at a specific point in time, click on the General Ledger tab. Trial Balance Tab - General ledger software also automates the preparation of trial balances. A trial balance lists each account from the General Ledger, along with its balance, either a debit or a credit. Total debits should always equal total credits. Income Statement Tab - The revenue and expense balances from the trial balance appear on the income statement, along with their balance as of the date selected. Review the income statement and indicate how the income statement is linked to the other financial statements. Statement of Retained Earnings Tab - Beginning retained earnings plus (minus) net income (loss) for the period less dividends. Review the statement of Retained earnings and indicate how the statement is linked to the other financial statements. Balance Sheet Tab - Each asset and liability account balance, as reported on the trial balance, appears on the balance sheet, along with the equity balance. Review the balance sheet and then indicate how the balance sheet is linked to the other financial statements. Journal entry worksheet 2 3 4 5 On January 1 - Kathy Perry invested $22,700 cash in the company in exchange for common stock. Note: Enter debits before credits. Account Title Debit Credit Date Jan 01 Record entry Clear entry View general journal 3 4 5 January 2 - The company provided services to a client and immediately received $9,000 cash. Note: Enter debits before credits. Date Account Title Debit Credit Jan 02 000: No journal entry required 101: Cash 106: Accounts receivable Recorder 126: Office supplies View general journal Requirement General Journal General Ledger Trial Balance Income Statement St Retained Earnings Balance Sheet Each journal entry is posted automatically to the general ledger. Think of the general ledger as sorting all of your journal entries by account title. Click on any of the individual amounts to return to the underlying journal entry. Dates: Jan 01 to: Jan 31 General Ledger Account Cash Accounts receivable No. Debit Credit Debit Credit Date Jan 01 Balance 86,000 Date Jan 01 Balance 12,700 Common stock No. Debit Credit Date Jan 01 Balance 98.700 Requirement "General Journal General Ledger Trial Balance "Income Statement ***St Retained Earnings Balance Sheet The trial balance is a listing of all account balances from the General Ledger as of a specific date. Click on any individual account balance to return to the General Ledger. The trial balance is only as accurate as the underlying journal entries. If the total debits do not equal the total credits, you must have a journal entry that is out of balance. If you have an abnormal ending balance (indicated with brackets in the general ledger), you should review the journal entries that affected that account to ensure that the journal entries are correct. Show less Dates: Jan 01 - to: Jan 31 Perry Company Trial Balance January 05, 2018 Account Title Credit $ Debit 86,000 12,700 Cash Accounts receivable Common stock Total 98,700 98,700 $ 98,700 $ Income Statement For Month ended January 31, 2018 Revenues Services revenue $ 0 Expenses Total expenses Net income $ 0 Net income or loss is transferred from the income statement to the: