Question

3. During April Kelly Consulting entered into the following transactions, Prepare journal entries for them. Apr. 1. The following assets were received from Kelly Pitney: cash $13100; accounts receivable, $3,000; supplies, $1,400; and office equipment $12,500. 1. Paid three months' rent on a lease rental contract, $4800; 2. Paid the premiums on property and casualty insurance polices,S1800 4. Received cash from clients as an advance payment for services to be provided and recorded it as unearned fees. $5,000. 5. Purchased additional office equipment on account from Office Station Co. $2,000. 6. Received cash from clients on account, $1,800.

10. Paid cash for a newspaper advertisement, $120. 12. Paid Office Station Co. for part of the debt incurred on April 5, $1,200. 14. Paid part-time receptionist for two weeks' salary, $750. 17. Recorded cash from cash clients for fees earned during the period April 11-16,$6,250. 20. Recorded services provided on account for the period April 13-20, $2,100. 24. Recorded cash from cash clients for fees earned for the period April 17-24,$3,850. 26. Received cash from clients on account, $5,600.

Answer 1

Date	Account title	Debit	Credit
Apr-01	Cash	$ 13,100
	Accounts receivable	$   3,000
	Supplies	$   1,400
	Office equipment	$ 12,500
	Capital, Kelly Pitney		$ 30,000
Apr-01	Prepaid rent	$   4,800
	Cash		$   4,800
Apr-02	Prepaid insurance	$   1,800
	Cash		$   1,800
Apr-04	Cash	$   5,000
	Unearned service revenue		$   5,000
Apr-05	Office equipment	$   2,000
	Accounts payable		$   2,000
Apr-06	Cash	$   1,800
	Accounts receivable		$   1,800
Apr-10	Advertisment expenses	$       120
	Cash		$       120
Apr-12	Accounts payable	$   1,200
	Cash		$   1,200
Apr-14	Salaries expenses	$       750
	Cash		$       750
Apr-17	Cash	$   6,250
	Service revenue		$   6,250
Apr-20	Accounts receivable	$   2,100
	Service revenue		$   2,100
Apr-24	Cash	$   3,850
	Service revenue		$   3,850
Apr-26	Cash	$   5,600
	Accounts receivable		$   5,600