Title Number

Cash $101$

Accounts Receivable $105$

Office Supplies $115$

Prepaid Insurance $120$

Prepaid Rent $125$

Office Equipment $130$

Accounts Payable $201$

G$.$ Adams, Capital $301$

G$.$ Adams, Withdrawals $305$

Services Revenue $401$

Utilities Expense $501$

The following transactions occurred in the month of January:

Jan. $1$

Adams invested $$200,000$ cash and $$25,000$ in office equipment in the company.

Jan. $2$

The company prepaid $$5,600$ cash for $12$ months rent for an office.

Jan. $3$

The company purchased on credit $$15,000$ in office equipment and $$2,000$ in office supplies. Payment is due in $10$ days.

Jan. $6$

Completed services for a client and collected $$10,000$ cash.

Jan. $9$

Completed services for a client worth $$5,000.$ The client is required to pay within $30$ days.

Jan. $13$

Paid $$17,000$ to settle an account payable.

Jan. $19$

Paid $$7,000$ cash for the premium on a $12$ month insurance policy.

Jan. $22$

Received $$5,000$ from a client for services completed on Jan. $9.$

Jan. $25$

Completed work for another client on credit worth $$10,000.$

Jan. $28$

Adams withdrew $$3,000$ cash for personal use.

Jan. $29$

Purchased $$500$ additional office supplies on credit.

Jan. $30$

Paid $$1,000$ cash for the monthly utility bill.

Required:

Prepare the necessary journal entries for the transactions in January.

Post the journal entries to the T$-$Accounts.

Prepare a Trial Balance for the end of January.