Record the following transactions:

Feb

1 Completed a consulting engagement and received cash of $8,500

1 See Chapter 13 section for the journal to incorporate the company.

9 Purchased 60 units software inventory on account from Mraz Co., $2,600 (including freight)

12 Sold 50 software units on account to James Williams, $4,500 (cost $1,300)

19 Consulted with a client, Joseph Smith, for a fee of $500 for cash.

20 Paid employee salaries, $2,055. 21 Paid on account $7,000.

22 Received telephone bill and paid for $300.

24 Sold 150 units software for cash for $13,125 (cost $3,900)

28 Record the following adjusting entries:

a. Accrued salaries expense $680.

b. Expiration of prepaid rent $550