For the past several years, John Addams has operated a part-time business from his home. As of April 1, 2002, John decided to move to rented quarters and to operate the business, which was to be known as Addams & Family Inc., on a full-time basis. Addams & Family entered into the following transactions during April: April 4 The following assets were received from John Addams: cash, $10,000; accounts receivable, $1,500; supplies, $1,250; and office equipment, $7,500. There were no liabilities received. April 4 Paid three months' rent on a lease rental contract, $4,500. April 4 Paid the premium on property and casualty insurance policies for the year, $1,800. April 6 Received cash from clients as an advance payment for services to be provided, $3,000. April 7 Purchased additional office furniture on account from Morrilton Company, $1,800. April 8 Received cash from clients on account, $800. April 11 Paid cash for newspaper advertisement, $120. April 12 Paid Morrilton Company $800 for debt incurred on April 7. April 15 Recorded services provided on account for the period April 4-15, $2,250 April 15 Paid part-time receptionist for two weeks salary, $400. April 15 Recorded cash from cash clients for fees eamed April 4-15, $3,175. April 18 Paid cash for supplies, $750. April 22 Recorded services provided on account for April 18-22, $1,100. April 22 Recorded cash from cash clients for fees eamed April 18-22, $1,850. April 25 Received cash from clients on account, $1,600. April 27 Paid part-time receptionist for two week's salary, $400. April 28 Paid telephone bill for April, $130. April 29 Paid electric bill for April, $200. April 29 Recorded cash from cash clients for fees earned April 25-29, $2,050. April 29 Recorded services provided on account for April 25-29, $1,000. April 29 John received $4,500 from the company as his salary. Instructions: (The first transaction has been recorded and postod for you). 1. Record the transactions stated above in good general journal form. 2. Post the transactions to T-accounts. 3. Record and post the following adjustments: a. Insurance expired in April, $150. b. Supplies on hand April 29, $1,020. c. Depreciation for the office equipment in April, $500. d. Accrued receptionist salary on April 30, $20. e. Rent expired in April, $1,500. 1. Earned $2,000 of services that were previously paid for on 4/6. 5. Prepare an Income Statement, Statement of Retained Earnings and Balance Sheet. 6. Record and post closing entries. 7. Prepare a post-closing trial balance.