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Part 1 Comprehensive Problem 1 - Kelly Pitney began her consulting business , Kelly Consulting , P . C .
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A + Grade Solutions Part 1 Comprehensive Problem 1 : Kelly Pitney began her consulting business , Kelly Consulting , P . C .
Kelly Pitney began her consulting business , Kelly Consulting , P . C . on April 1 , 2014 . The accounting cycle for Kelly Consulting for April , including financial statements , was illustrated on pages 163-173 . During May , Kelly Consulting entered into the following transactions :
May 3 . Received cash from clients as an advance payment for services to be provided and recorded it as unearned fees , $ 4500 .
May 5 . Received cash from clients on account , $ 2450 . May 9 . Paid cash for a newspaper advertisement , $ 225 . May 13 . Paid Office Station Co . for part of the debt incurred on April 5 , $ 640 . May 15 . Recorded services provided on account for the period of May 1-15 , $ 9180 . May 16 . Paid part-time receptionist for two weeks ' salary including the amount owed on April 30 , $ 750 . May 17 . Recorded cash from cash clients for fees earned during the period May 1-16 , $ 8360 . Record the following on Page 6 of the journal : May 20 . Purchased supplies on account , $ 735 . May 21 . Recorded services provided on account for the period May 16-20 , $ 4820 . May 25 . Recorded cash from cash clients for fees earned for the period May 17-23 , $ 7900 . May 27 . Received cash from clients on account , $ 9520 May 28 . Paid part-time receptionist for two weeks ' salary , $ 750 .