Scenario: For the past several years, Angela Smith operated a part-time consulting business from her home. As of September 1, 2020, Angela decided to move to rented quarters and to operate the business on a full-time basis. She has registered the business as Interactive Consulting Ltd but has no prior knowledge of accounting and has approached a member of your group for advice. The company entered the following transactions during September: Sept 1. The following assets were received from Angela Smith in exchange for capital of Interactive Consulting Ltd: cash - $7,050, accounts receivable - $1,500, supplies - $1,250, and office equipment - $7,200. There were no liabilities received. 2. Paid three (3) months rent on a lease rental contract, $3,600. 3. Paid the premiums on the property and peril insurance policies, $1,500. 4. Received cash from clients as an advance payment for services to be provided in the coming months, $3,500. 5. Purchased additional office equipment on account from Payne Company, $1,800. 6. Received cash from clients on account, $800. 10. Paid cash for newspaper advertisement, $120. 12. Paid Payne Company a portion of the debt incurred on September 5, $800. 12. Recorded services provided on account for the period September 1 -12, $1,200. 13. Paid part-time receptionist for two weeks salary, $400. 17. Recorded cash from cash clients for fees earned during the first half of September, $2,100. 18. Paid cash for supplies, $750. 20. Recorded services provided on account for the period September 13-20, $1,100. 24. Recorded cash from cash clients for fees earned for the period September 17-24, $1,850. 25. Received cash from clients on account, $1,300. 27. Paid part-time receptionist for two weeks salary, $400. 29. Paid telephone bill for September, $130. 30. Paid electricity bill for September, $200. 30. Recorded cash from cash clients for fees earned for the period September 25-30, $1,050. 30. Recorded services provided on account for the remainder of September, $500. Requirements

1.post the journal entries to their respective ledger accounts.

	An example of the template used for the Ledger Accounts/ T Accounts
	This method will allow for errors to be found easy.
	Quality Capital
	Dr					Cr
	Date	Details	Cash	Date	Details	Cash
	1-Jun	Account balance	70,000	30-Jun	balance c/d	70,000
			70,000			70,000
		balance b/d	70,000