T'Argett Company completed the following transactions during October 2024: Oct 1 T'Argett Company began operations by receiving $15,000 cash and office equipment valued at $8,000 from T. Argett. The business issued T. Argett capital to acquire these assets. Oct 1 Paid building rent for three months $4,200. Oct 2 Purchased supplies from Supplies Co. on account $700. Oct 3 Paid $1,800 for a three-month insurance policy beginning this month. Oct 4 Paid $600 for advertising expenses. Oct 7 Performed services for a client on account, $3,000. Oct 10 Paid $350 on account from October 3 supplies purchase. Oct 14 Received $4,400 cash for providing services to a customer. Oct 16 Paid $500 for supplies. Oct 18 Paid employee salary $2,100. Oct 21 Billed client for services rendered, $5,000. Oct 24 Received cash on account from customers, $3,500 Oct 25 The business received $1,800 for services to be performed next month. Oct 28 Performed services for a customer and received $2,200 cash. Oct 29 Collected cash from a customer on account, $1,400. Oct 30 Paid electricity bill and phone bill, $700 (Utilities Expense). Oct 31 T. Argett withdrew cash $2,500. Oct 31 Purchased a new computer (Office Equipment) for $1,100 paying $600 cash and the remainder on account. г 2 ue ce Rev nts Comprehensive Project Steps to complete: 1) Record each transaction in the journal using the following chart of accounts. Explanations are not required. Target: Chart of Accounts 11 Cash 12 Accounts Receivable 14 Supplies 15 Prepaid Rent 16 Prepaid Insurance 18 Office Equipment 19 Accumulated Depreciation-Off.Equip 21 Accounts Payable 22 Salaries Payable 23 Unearned Revenue 31 T. Argett, Capital 32 T. Argett, Drawing 33 Income Summary 41 Service Revenue 51 Salary Expense 52 Rent Expense 53 Supplies Expense 54 Depreciation Expense-Off. Equip 55 Insurance Expense 56 Utilities Expense 57 Advertising Expense 2) Post the transactions in the General Ledger. 3) Prepare an unadjusted trial balance as of October 31, 2024. 4) Prepare a worksheet as of October 31, 2024 (optional: worth 10 bonus points) 5) Journalized the adjusting entries using the following adjustment data and also by reviewing the journal entries prepared in step 1. Post adjusting entries to the General Ledger. Adjustment Data for October 31, 2024: a) Depreciation was recorded on total office equipment using the straight-line method. Assume a useful life of 3 years and salvage value of $1,000. (Example is on page 3-10) b) Prepaid insurance for the month has expired. (Reference Oct 3 journal entry) c) Accrued Salaries Expense: $1,890 d) Supplies on hand, $650. e) Unearned Revenue earned during the month, $300 f) Prepaid rent for the month has expired. (Reference Oct 1 journal entry) 6) Prepare an adjusted trial balance as of October 31, 2024. 7) Prepare T.Argett Company's income statement and statement of owner's equity for the month ended October 31, 2024 and the classified balance sheet on that date. On the income statement, list expenses in decreasing order by amount - that is largest expense first, the smallest expense last. 8) Journalize the closing entries and post to the General Ledger. 9) Prepare a post-closing trial balance as of October 31, 2024.