Part I
Carl Redmon completed the following transactions during December:
Dec 2 Invested \( \$ 25,000 \) to start a consulting practice titled Redmon Consulting.
2 Paid \( \$ 6,000 \) for a 2 -year insurance policy.
3 Paid cash for a computer, \( \$ 2,400 \). It is expected to remain in service for five years, and have a \( \$ 400 \) salvage value at the end of its useful life.
4 Purchased office furniture on account, \( \$ 4,500 \). The furniture should last for five years.
5 Purchased supplies on account, \$500.
9 Performed consulting service for a client on account, \( \$ 1,700 \).
12 Paid utility expense, \( \$ 200 \).
18 Performed service for a client and received cash of \( \$ 800 \).
22 Received \( \$ 1,200 \) in advance for client service to be performed evenly over the next 30 days.
22 Hired a secretary to be paid \( \$ 4,000 \) on the \( 20^{\text {th }} \) day of each month. The secretary begins work immediately.
26 Paid \( \$ 300 \) on account.
28 Collected \( \$ 600 \) on account.
30 The owner withdrew \( \$ 1,600 \) for personal use.
31 Paid monthly office rent, \( \$ 750 \).
Required
1) Prepare journal entries for the above transactions in the journal of Redmon Consulting.
