Project 1 R For the p st severa years, Aaron Jones has operacoa consult ng busness from niS home on a part-time basis. As of December 1. 20X1, Aaron deaded to move to ranted arters and incorporate his business as progress Consuting inc. Progress Consulting entered into the following trensections during December 2/ Aaron Jones invested the following assets in the business: cach, $50,0o; supplics, $8,000; and otrice equipment, $45,000. Mr. Jones recaived stock in an amount equal to his inwestment in the corperation. 12/2 Paid $9,000 for rent for December 20x1 through February 28, 20x2. 2 Faid $10,800 for e one yeer premium on property end casuelty insurence. The policy covers the period December1, 20x1 to November 30, 20X2. 12/4 Received $12,000 cash froma client as an advance payment for services to be performed in the future. 12/S Purchased addit onal omce oquipment on account from Payne Company for $15,000. 2/10 Paid $6,500 for a newapaper advertisement rat ran in todays paper 2/1 Paid Payne Company $4,000 for part of the debt incurred an December 5 2/12 Bed dients for services performed an accoune, ss.cco 2/17 Recehved cash payment from dient for services performed on this date, $15,000 12/18 Paid $6,000 for supplies 12/20 ed dients for services performed on account, $16,0cCO. 12/24 Recelved cesh payment from dient for services performed on this dete, $2,000. 12/25 Received cash firom clients as payment on account, $3,000. 12/30 Faid $800 for ubiies for December. 12/31 Paid cash dividend of $6,000 Your anawer ispartally correct. Try again Journalize each of the abowe tranasctions. (Crodit account titdes are automatically indented when the amount is entered. Do not indent manually, Record journal entries in the order presented in the Date Account Tides and Explanation Debit