PR 4-5B Complete accounting cycle Obj. 4, 5 8.Net income: For the past several years, Jeff Horton has operated a part-time consulting business from his $53,775 home. As of April 1, 2018, Jeff decided to move to rented quarters and to operate the business, which was to be known as Rosebud Consulting, on a full-time basis. Rosebud entered into the following transactions during April: Apr. 1. The following assets were recelved from Jeff Horton in exchange for common stock cash, $20,000 accounts recelvable, $14,700 supplies, $3,300, and office equipment, $12,000. There were no lablities recelved BCB TEMPLATE 1. Pald three months' rent on a lease rental contract, $6,000. 2. Pald the premiums on property and casualty insurance policies, $4,200. 4 Recelved cash from clients as an advance payment for services to be provided and recorded it as un earned fees, $9,400. s. Purchased additional office equipment on account from Smith Office Supply Co, $8,000. 6. Recelved cash from clients on account, $11,700. 10. Pald cash for a newspaper advertisement, $350. 12. Paid Smith Office Supply Co. for part of the debt incurred on April 5, $6,400. 12. Recorded services provided on account for the period Apnil 1-12, $21,900. 14. Pald receptionist for two weeks'salary, $1,650 Record the following transactions on Page 2 of the journal 17. Recorded cash from cash clients for fees carned during the period April 1-16, $6,600. 18. Pald cash for supplies, $725 20. Recorded services provided on account for the period April 13-20, $16,800. 24. Recorded cash from cash dients for fees earned for the period Apnil 17-24, $4,450. 26. Recelved cash from clients on account, $26,500 27. Pald receptionist for two weeks'salary, $1,650 29. Paid telephone bill for April $540 30. Pald electricity bll for April $760. 30. Recorded cash from cash dients for fees earned for the period Apnil 25-30, $5,10. 30. Recorded services provided on account for the remainder of April $2,590 30- Paid dividends, $18,000. 1. Journalize each transaction in a two-column journal starting on Page 1, referring to the following chart of accounts in selecting the accounts to be debited and credited. (Do not insert the account numbers in the journal at this time.) 11 Cash 12 Accounts Recelvable 14 Supplies 15 Prepaid Rent 16 Prepaid Insurance 18 Office Equipment 31 Common Stock 32 Retained Earnings 33 Dividends 41 Fees Earned 1 Salary Expense 52 Supplies Expense 53 Rent Expense 54 Depreclation Expense 5 Insurance Expense 59 cellaneous Expense 21 Accounts Payable 22 Salaries Payable 23 Unearned Fees 2. Post the journal to a ledger of four-column accounts. 3. Prepare an unadjusted trial balance. i. At the end of April, the following adjustment data were assembled. Analyze and use these data to complete parts (5) and (6). Insurance explred during April is $350. B) Supplies on hand on April 30 are $1,225. C) Depreclation of office equipment for April is $400. D) Accrued receptionist salary on April 30 is $275. Rent expired during April is $2.000. Unearned fees on April 30 are $2,350