Each question is worth $2$ points, with $0\mathrm{.}5$ points for each of the correct accounts, the correct

debit$/$credit position, and correct amount.

In the General Journal below, record adjusting journal entries for the following items for

Consultants Inc. at December $31,2022.$

On January $2,2022$ Consultants Inc. accepted a $$23,000$ deposit from a client for

consulting work to be completed during the year. On December $31,2022$ all the

consulting work for the client is complete.

On December $31,2022$ an electricity bill was received for the office use during

the month of December. It was not yet paid at December $31,2022.$ Amount is

$$525$

On January $1,2022,$ a $$30,000$ company vehicle was purchased on account. The

vehicle is expected to last $8$ years and have a residual value of $$3,500$ at the end

of its useful life.

Consulting services were performed during December $2022,$ but the client has

not yet been billed the total of $$9,400.$