Question: 1. Symphony Stores started a consulting business, Symphony Stores Consulting, on January 1, 2012, and the business engaged in the following transactions during the year.

1. Symphony Stores started a consulting business, Symphony Stores Consulting, on

1. Symphony Stores started a consulting business, Symphony Stores Consulting, on January 1, 2012, and the business engaged in the following transactions during the year. a. Paid rent in advance for $8,000. b. Incurred operating expense $2,000 by the end of the year. c. Receive payment of $5,000 from a customer for services that will be provided over the next nine months. d. Provide service to customers on account $15,000. e. Recognized $4,500 rent expense related to transaction (a). Required: a. Record the above transactions in general journal form. (5 marks) BIE

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