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1. Journalize each transaction in a two-column journal, 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 ot this time.) 2. Post the journal to a ledger of four-column accounts. 3. Prepare a trial balance as of December 31,2022 , listing all the accounts in the order given in the ledger. 4. Journalize and post the adjusting entries. a) One month of insurance has expired. b) Supplies on hand on at the end of the month are $1,500. c) Accrued receptionist salary for the remainder of the month is $200. d) One month of rent was used. e) Unearned fees at the end of the month are $2,500. f) $3,500 of fees needs to be accrued g) Calculate the interest for one month on the Note Payable using a 4% interest rate. (Use the Note Payable account and round to nearest whole number.) h) Depreciation of office equipment for the month based on SL depreciation over 5 years. (Round to nearest whole number) i) Bad Debt is 1% of sales for the month. (Round to nearest whole number) (Hint: Use the revenue balance ofter other adjusting entries have been completed) 5. Prepare the adjusted trial balance for the end of the month. 6. Prepare an income statement, a statement of owner's equity, and a classified balance sheet. 7. Journalize and post the closing entries. (income Summary is account A320 in the chart of accounts.) Indicate closed accounts by inserting a line in both Balance columns opposite the closing entry. 8. Prepare a post-closing trial balance for the end of the month. ellington cossulting adj. Trial belance DeC 31,2022 Ellington Consulting Unadjusted Trial balance December 31, 2ol2

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