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Saved In January, Tongo, Incorporated, a branding consultant, had the following transactions a. Received $15,400 cash for consulting services rendered in January b. Issued common

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Saved In January, Tongo, Incorporated, a branding consultant, had the following transactions a. Received $15,400 cash for consulting services rendered in January b. Issued common stock to investors for $13,500 cash. c. Purchased $13,300 of equipment, paying 25 percent in cash and owing the rest on a note due in 2 years. d. Received $10,550 cash for consulting services to be performed in February. e. Bought and received $1,660 of supplies on account f. Received utility bill for January for $1,560, due February 15. 9. Consulted for customers in January for fees totaling $23,400, due in February h. Received $17,300 cash for consulting services rendered in December i. Paid $830 toward supplies purchased in (e). Required: For each transaction, post the effects to the appropriate T-accounts. Cash Debit Account Receivable Credit Credit Debit January 1 16,000 January 1 18,400 January 31 16,000 January 31 18,400 Supplies Debit Credit Debit Equipment + 5.900 Credit January 1 1,250 January 1 Required information Supplies Equipment Debit Credit Debit Credit January 1 1,250 January 1 5,900 January 31 1,250 January 31 5,900 Deferred Revenue Debit Accounts Payable Credit 5,800 Debit Credit . January 1 January 1 4,000 t January 31 5,800 January 31 4,000 Notes Payable Common Stock Debit Credit Debit Credit January 1 January 1 15,500 January 31 January 31 15,500 Service Revenue Debit Retained Earnings Credit 16,250 Debit Credit January 1 January 1 work Chapter 36 Seved Required information January 31 January 31 4.000 Notes Payable Common Stock Debit Credit Debit Credit January 1 January 1 15.500 January 31 0 January 31 15.500 Sk Service Revenue Debit Retained Eaming Credit 16.250 Debit Credit January 1 January 1 January 31 16250 January 31 Utilities Expense Debit Credit January 1 January 31 MacBook Air s VP // 1:1 & I Z W E R T Y U S D F G H k Z X C V B N M

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