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Prev 1 of 1 Next accounting work of Eli's Consulting Services for the month of January 202. 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 Jan. 2 Purchased supplies for $14,000; issued Check 1015. 2. Purchased a one-year insurance policy for $16,800. 7 Sold services for $30,000 in cash and $20,000 on credit during the first week of January. 12 Collected a total of $8,000 on account from credit customers during the first week of 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. 13 Collected a total of $9,600 on account fron credit customers during the second week of January. 14 Returned supplies that were damaged for a cash refund of $1,500. 15 Sold services for $41,400 in cash and $4,600 on credit during the second week of January. 20 Purchased supplies for $10,000 from White's, Inc.; received Invoice 2384 payable in 30 days. 20 Sold services for $25,000 in cash and $7,000 on credit during the third week of January. 20 Collected a total of $11,200 on account from credif customers during the third week of january. 21 Issued Check 1018 for $14,130 to pay for maintenance work on the office equipment. 22 Issued Check 1019 for $7,200 to pay for special promotional advertising to new businesses in the tocal newspaper. 23 Received the monthly telephone bill for $2,050 and paid it with Check 1020. 26 Collected a total of $3,200 on account from credit customers during the fourth week of January. 27 Issued Check 1021 for $6,000 to office Plus as payment on account for Invoice 2223 . 28 Sent Check 1022 for $5,350 in payment of the monthly bill for utilities. 29 Sold services for $38,000 in cash and $5,500 on credit during the fourth week of January, 31 Issued Checks 10231027 for $65,600 to pay the monthly sataries of the regular employees and three part-time workers. 31 Issued Check 1028 for $24,000 for personal use. 31 Issued Check 1029 for $8,300 to pay for maintenance services for the month. 31 Purchased additional equipment for $30,000 from Contemporary Equipment Company; issued Check 1030 for $20,000 and bought the rest on credit. The equipment has a five-year life and no satvage value. 31 Sold services for $15,260 in cash and $3,246 on credit on January 31 . ADJUSTMENTS 31 Compute and record the adjustment for supplies used during the month. An inventory taken on January 31 showed supplies of $9,400 on hand. 31 Compute and record the adjustment for expired insurance for the month. 31 Record the adjustment for one month of expired rent of $4,000. 31 Record the adjustnent for depreciation of $183 on the old equipent for the month. The first adjustment for depreciation for the new equipment will be recorded in february. accounting work of Eli's Consulting Services for the month of January 202. Assume that you are the chief accountant for Ell'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 Jan. 2 Purchased supplies for $14,060; issued Check 1015. 2 Purchased a one-year insurance policy for $16,800. 7 Sold services for $30,000 in cash and $20,000 on credit during the first week of January. 12 Collected a total of $8,000 on account from credit customers during the first week of 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. 13 Collected a total of $9,600 on account fron credit customers during the second week of January. 14 Returned supplies that were damaged for a cash refund of $1,500. 15 Sold services for $41,400 in cash and $4,600 on credit during the second week of January. 20 Purchased supplies for $10,000 from White's, Inc.; received Invoice 2384 payable in 30 days. 20 Sold services for $25,000 in cash and $7,000 on credit during the third week of January. 20 Collected a total of $11,200 on account from credif customers during the third week of january. 21 Issued Check 1018 for $14,130 to pay for maintenance work on the office equipment. 22 Issued Check 1019 for $7,200 to pay for special promotional advertising to new businesses in the tocal newspaper. 23 Received the monthly telephone bill for $2,050 and paid it with Check 1020. 26 Collected a total of $3,200 on account from credit customers during the fourth week of January. 27 Issued Check 1021 for $6,000 to office Plus as payment on account for Invoice 2223 . 28 Sent Check 1022 for $5,350 in payment of the monthly bill for utilities. 29 Sold services for $38,000 in cash and $5,500 on credit during the fourth week of January. 31 Issued Checks 10231027 for $65,600 to pay the monthly salaries of the regular employees and three part-time workers. 31 Issued Check 1028 for $24,000 for personat use. 31 Issued check 1029 for $8,300 to pay for maintenance services for the month. 31 Purchased additional equipment for $30,000 from Contemporary Equipment Company; issued Check 1030 for $20,000 and bought the rest on credit. The equipment has a five-year life and no salvage value. 31 Sold services for $15,200 in cash and $3,240 on credit on January 31 . ADJUSTHENTS 31 Compute and record the adjustiment for supplies used during the month. An inventory taken on January 31 showed supplies of $9,480 on hand. 31 Compute and record the adjustment for expired insurance for the month. 31 Record the adjustment for one month of expired rent of $4,000. 31 Record the adjustnent for depreciation of $183 on the old equipsent for the month. The first adjustment for depreciation for the new equipment will be recorded in february

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