Question #1 (18 points) Jane Smith started a consulting business, Smith Consulting Inc. Smith Consulting Inc. completed the following transactions during January 2021. Prepare the journal entries for the below (A-G) transactions of Smith Consulting Inc. Also, Prepare the adjusting entries for Smith Consulting Inc. (H & I). Good Journal Entry Format IS required. Explanations entries are NOT required. On your answer sheet label your response Question 1 and then Label your individual Answers (A., B., C., etc.) A. On 1/1/2021, Jane incorporated the business, Smith Consulting Inc. (Smith), and invested $50,000 in exchange for common stock. B. Smith purchased $9,000 of office equipment, paid cash, on 01/01/2021. C. Smith purchased $1,300 of office supplies on account on 01/03/2021. These supplies will be used over the next year. Before this purchas the supplies balance was $0. D. On 01/05/2021, Smith hired a new employee at a salary of $2,500/month. E. On January 15, Smith earned $20,000 of revenue, 1/2 of the customers paid cash at the time of service; the other 12 will pay later. F. January 24th, Smith collected cash from a customer on account, $3,000 G. January 31st, Smith paid salaries for the month of January, $2,300. It is now month end. For the data below (H & I) prepare the adjusting journal entries. No explanation is required. H. A physical count reveals $600 of supplies (#C) on hand at the end of January. I. The Office Equipment (#B) has a useful life of 3 years and no salvage value