This project will give you an opportunity to apply your knowledge of accounting principles and procedures by handling all the accounting work of Eli's Consulting Services for the month of January 20X2. Assume that you are the chief accountant for Eli's Consulting Services. During January, the business will use the same types of records and procedures that you learned about in Chapters 1 through 6. The chart of accounts for Eli's Consulting Services has been expanded to include a few new accounts. Follow the instructions on the Requirements tab to complete the accounting records for the month of January. DATE TRANSACTIONS January 2 Purchased supplies for $14,000; issued Check 1015. January 2 Purchased a one-year insurance policy for $16,800. January 7 Sold services for $30,000 in cash and $20,000 on credit during the first week of January. January 12 Collected a total of $8,000 on account from credit customers during the first week of January. January 12 Issued Check 1017 for $7,200 to pay for special promotional advertising to new businesses on the local radio station during the month. January 13 Collected a total of $9,000 on account from credit customers during the second week of January. January 14 Returned supplies that were damaged for a cash refund of $1,500. January 15 Sold services for $41,400 in cash and $4,600 on credit during the second week of January. January 20 Purchased supplies for $10,000 from White's, Incorporated; received Invoice 2384 payable in 30 days