I need to journalize these transactions. Trying to keep these balanced is difficult, and I've been confused as to what accounts to debit/credit. If you could help me fill this out, that would be greatly appreciated.

For the past several years, Aaron Jones has operated a consulting business from his home on a part-time basis. As of December 1, 20X1, Aaron decided to move to rented quarters and incorporate his business as Progress Consulting Inc. Progress Consulting entered into the following transactions during December:

1st Aaron Jones invested the following assets in the business: cash, $50,000; supplies,

$10,000; and office equipment, $30,000. Mr. Jones received stock in an

amount equal to his investment in the corporation.

2nd Paid $9,000 for rent for December 20X1 through February 28, 20X2.

3rd Paid $12,000 for a one year premium on property and casualty insurance. The

policy covers the period December 1, 20X1 to November 30, 20X2.

4th Received $16,000 cash from a client as an advance payment for services to be

performed in the future.

5th Purchased additional office equipment on account from Payne Company for $10,000.

10th Paid $7,500 for a newspaper advertisement that ran in todays paper.

11th Paid Payne Company $3,000 for part of the debt incurred on December 5.

12th Billed clients for services performed on account, $5,800.

17th Received cash payment from client for services performed on this date, $14,000.

18th Paid $6,000 for supplies.

20th Billed clients for services performed on account, $15,000.

24th Received cash payment from client for services performed on this date, $2,000.

25th Received cash from clients as payment on account, $3,000.

30th Paid $750 for utilities for December.

31st Paid cash dividend of $5,000.

These are the accounts we have:

PROGRESS CONSULTING: Chart of Accounts

11 Cash

12 Accounts Receivable

14 Supplies

15 Prepaid Rent

17 Prepaid Insurance

18 Office Equipment

19 Accumulated Depreciation

21 Accounts Payable

22 Wages Payable

23 Unearned Revenues

31 Common Stock

34 Retained Earnings

35 Dividends

37 Income Summary

41 Service Revenues

51 Insurance Expense

52 Advertising Expense

53 Rent Expense

55 Supplies Expense

57 Depreciation Expense

59 Utilities Expense

60 Wage Expense

Date		Description		Debit	Credit
Dec	1	Cash		50,000
	1	Supplies		10,000
	1	Office Equipment		30,000
	1	Common Stock			90,000
	2