The following additional facts are collected for use in making adjusting entries prior to preparing financial statements for the company's first three months of operations:

The December 31 inventory count of computer supplies shows $320 still available.

Three of the four months' prepaid rent has expired.

Three months have expired since the 12-month insurance premium was paid in advance.

As of December 31, the only employee of Jamison Consulting had not been paid for four days of work at $125 per day.

The computer system, acquired for $8,000 on October 1, is expected to have a four-year life with no salvage value.

The office equipment, acquired for $20,000 on October 1, is expected to have a five-year life with no salvage value.

Homework Project 1- Working Papers General Journal for Requirements 1, 4 &10 Name: Below are the journal entries recorded by Jamison Consulting for October and November 2016. NOTE: These are for your information only; you do not need to do anything with these entries. GENERAL JOURNAL GENERAL JOURNAL PAGE 1 DATE DEBIT CREDIT DATE CREDIT ber Transactions nts Dec Accounts Receivable sulting Revenues 40 950 ice Equipmen mputer Equipmen vertising Expense 025 655 101 ison 025 nsurance rs Expense- puter aid Rent 3,300 101 300 nts Payab 545 Accounts Payable age ense 101 750 unts Receivab mputer Services Revenue 15 500 Unea ense sultant 40 unts Payable 101 545 age Accounts Receivable 106 800 amison drawals 101 mputer unts Receivab amison awal