Problem Section: Complete the accounting cycle for the period January 1 to February 28, 2018. We Do Taxes Company started operations as of January 1, 2018 and set up a small office in Edison to prepare tax returns and perform accounting services. Use the information to follow to journalize each transaction on the Journal Sheet. Jan 1 Paid six months rent on a lease rental contract, $5,400. Jan 3 Paid premiums on property and casualty insurance policies for the year, $1,800. Jan 5 Received cash from clients as an advance payment for services to be provided and recorded it as unearned fees, $6,000. Jan 10 Received cash from clients on account $500. Jan 21 Purchased a new computer and other office equipment on account from Staples, $3,500. Jan 21 Paid part-time receptionist for two weeks' salary, $1,000. Jan 29 Recorded services provided on account for the period Jan 1-28, $10,300. Jan 30 Received cash from clients for fees earned during period, Jan 1-20, $5,000. Jan 31 Paid Staples for part of the debt incurred on Jan 21, $1,500. Feb 6 Received cash from clients on account $4,500. Feb 28 Paid dividends, $8,000. a) Supplies on hand on February 28 are $1,280. b) Depreciation of office equipment for January and February is $517 ($12,000 +$3,500/602 months). c) Rent expired during January and February is $1,800. Page 1 Journal Date Description Post Ref. Credit Debit Journal Page 2 Date Description Post Ref. Debit Credit