For the past two years Jeni has been providing consultation service in her business known as Colorful Ideas Consulting service.

For the past two years Jeni has been providing consultation service in her business known as Colorful Ideas Consulting service. The firm’s asset as of January 1 was $65,500 (Cash, $30,000;supplies $4,500; account receivable $6,000; and office equipment $25,000). The firm has noliabilities transferred from the previous accounting period. During the month of January, 2022, Colorful Ideas Consulting entered into the following transactions: January 1. Paid three months’ rent on a lease rental contract, $6,000. 2. Paid the premiums on property and casualty insurance policies for one year, $2,400. 3. Received cash from clients as an advance payment for services to be provided and recorded it as unearned fees, $3,800. 5. Purchased additional office equipment on account for $6,500. 6. Received cash from clients on account, $3,500. 10. Paid cash for a newspaper advertisement, $340. 12. Paid creditor for part of the debt incurred on January 5, $2000. 12. Recorded services provided on account for $4,000. 14. Paid part-time workers for two weeks’ salary, $2,400. 17. Received cash from clients for service provision, $6,500. 18. Purchased supplies for cash, $700. 20. Recorded services provided on account for the period January 13–20, $4,800. 24. Recorded cash from cash clients for fees earned for the period January 17–24, $5,650. 26. Received cash from clients on account, $7,800. 27. Paid part-time workers for two weeks’ salary, $2,400. 30. Paid telephone bill for the month of January, $250. 31. Paid electricity bill for January, $600. 31. Recorded cash from cash clients for fees earned for the period January 25–30, $3,700. 31. Jeni withdrew $4,500 for personal use.