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Required: 1. Record the January 2007 Transactions in a general joumal. (Make the appropriate journal entries and you may omit journal entry descriptions.) 2. Post the journal entries to the general ledger. 3. Prepare a trial balance for January 2007 . 4. Record adjusting entries in the general journal and post the adjusting entries to the general ledger. a. Dental supplies on hand at the end of the month amount to $350. b. Make adjusting entry for the insurance premiums expired. c. Accrued $840 for salary earned that will be paid in September. d. Ignore depreciation for this month. No adjustment needed. e. Do you need an adjustment for Rent Expense? 5. Prepare an adjusted trial balance for January 31,2007. 6. Prepare the income statement, statement of retained earnings and balance sheet as of January 31,2007. 7. Since January 31,2007 is the end of the fiscal year record the closing entries in the general journal and post the closing entries to the general ledger. 8. Prepare a post-closing trial balance as of January 31,2007. Required: 1. Record the January 2007 Transactions in a general joumal. (Make the appropriate journal entries and you may omit journal entry descriptions.) 2. Post the journal entries to the general ledger. 3. Prepare a trial balance for January 2007 . 4. Record adjusting entries in the general journal and post the adjusting entries to the general ledger. a. Dental supplies on hand at the end of the month amount to $350. b. Make adjusting entry for the insurance premiums expired. c. Accrued $840 for salary earned that will be paid in September. d. Ignore depreciation for this month. No adjustment needed. e. Do you need an adjustment for Rent Expense? 5. Prepare an adjusted trial balance for January 31,2007. 6. Prepare the income statement, statement of retained earnings and balance sheet as of January 31,2007. 7. Since January 31,2007 is the end of the fiscal year record the closing entries in the general journal and post the closing entries to the general ledger. 8. Prepare a post-closing trial balance as of January 31,2007

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