Jane Taylor created Taylor Engineering, Inc. on January $1,2023.$

Taylor Engineering, Inc. has the following Chart of Accounts:

Cash Accounts Payable

Accounts

Receivable

Note Payable

Office Supplies Common Stock

Prepaid Insurance Service Revenue

Office Equipment Salaries Expense

Building Utilities Expense

Maintenance Expense

Directions: Use the above account names to prepare journal entries for the month of January.

Jan $1$: Jane Taylor started an engineering consulting corporation by investing $$525,100$ cash in the

business in exchange for common stock.

Jan $2$: The company purchased building for $$275,000$ by signing a note payable.

Jan $5$: The company paid $$25,000$ cash for office supplies. The office supplies are expected to last one

year.

Jan $10$: The company completed and delivered a set of plans for a client and billed the client $$92,500.$

Jan $11$: The company purchased $$200,000$ of office equipment on credit from Staples.

Jan $15$: The company paid $$176,500$ cash for a one$-$year insurance policy.

Jan $20$: The company paid $$15,000$ for the weekly salaries for the employees.

Jan $25$: The company paid $$2,500$ for the monthly utilities.

Jan $26$: The company paid $$100,000$ on the amount due to Staples $($see the Jan $11$ transaction$).$

Jan $26$: The company completed an engineering consulting job and collected $$65,000$ cash from the

customer.

Jan $27$: The company paid $$3,000$ for monthly building maintenance charges.

Jan $30$: The company received the full amount due from the customer $($see the Jan $10$ transaction$).$

Jan $30$: The company paid $$25,000$ on the note payable $($see the Jan $2$ transaction$).$