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Eric Consulting Services Company opened for business on January 25, 2019. The company engaged in...

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Accounting

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Eric Consulting Services Company opened for business on January 25, 2019. The company engaged in the following business activity in January: Jan 20 Issue 5,000 shares of capital for $50,000 |Jan 20 Paid $400 office rent for the remainder of January Jan 21 Purchased office supplies for $200. The supplies will last for several months, and payment is not due until February 15 Jan 22 Purchase office equipment cost $25,000. $15,000 is paid by cash. Jan 26 Performed consulting services and billed clients $20,000. The entire amount will not be collected Jan 28 Received cash of $12,000 from client on services rendered on Jan 26. Jan 31 Received $100 electricity bill which is not due until February 20. Required: Prepare journal entries for the above transactions (ignore narrations). (15 marks)

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