The chart of Accounts for Anothy's Davidson Legal Services business is as follows:

Assets

General Bank Account

Accounts Receivable

Supplies

Computer Equipment

Office Equipment

Revenue

Fees Earned

Expenses

Advertising Expense

Office Equipment

Rent Expense

Utilities Expense

Phone Expense

Supplies Expense

Insurance Expense

Postage Expense

Liabilities

Credit Card

Owner's

Equity

Owner, Capital

Owner, Withdrawals

1.Use the above chart of accounts to record the transactions set out below in the Journal tab on the Excel Worksheet and balance the Journal.

2.Post all the transactions to the general ledger accounts contained in the following Excel tabs: Ledger, Ledger (2), and Ledger (3).Post each entry to the appropriate general ledger and then add the post reference number to the appropriate line in the General Journal.Note that the opening balances are already entered for you.

3.Use the general ledger balances to prepare Trial Balance as of January 31 in the Trial Balance tab.

4.Prepare the Income Statement in the Statements tab.

5.Prepare the Statement of Owner's Equity in the Statements tab.

6.Prepare the Balance Sheet as at January 31 in the Balance Sheet tab.

Transactions for the month

May 3: Paid Capital Management the sum of $1,200.00 to cover rent for January from the general bank account

May 5^th:Sent a bill to Tonya Smith for legal services rendered in the amount of $3,025.00 and received payment from Tonya via cheque

May 9th: Sent a bill to Summer Line for legal services rendered in the amount of $520.00 and received payment in cash

May 10: Paid the telephone bill that was outstanding in the amount of $155.00 with a cheque from the general bank account

May 11: Buy new laptop from Best Buy in the amount of $1,200.00 on credit card

May 12: Purchase two new chairs for the office waiting room via cheque from the general bank account in the amount of $200.00

May 13: Purchased Computer Equipment - printers from Multi Systems Inc.in the amount of $1,200.00, cheque from the general bank account

May 16 : Paid yellow pages advertising in the amount of $65.00 via cheque from the general bank account

May 20: Paid utilities bill received from Ontario Hydro in the amount of $195.00 via cheque from the general bank account

May 21: Withdraw money ($3,000.00) from the general bank account for personal funds

May 22:Sent a bill to Dr. Anthony Veale in the amount of $2,600.00.Dr. Veale has not paid anything on this invoice.