Answers: Dec. 2 Cash 60,000 Miguel Alfonso Capital 60,000 To record the investment of Miguel Alfonso Dec.

4 Prepaid Insurance 6000 Cash 6000 To record the payment of prepaid insurance Dec. 6 Office Furniture 15000 Accounts payable 15000 To record the purchase of office furniture on account Dec. 8 Office supplies 2500 Cash 2500 To record the purchase of office and computer supplies Dec. 11 Cash 60000 Loan Payable 60000 To record the loan from Citibank Dec. 14 Office Supplies 60000 Accounts Payable 60000 To record the purchase of desktop computer and printer on credit Dec. 16 Cash 12500 Service Revenue 12500 To record service revenue Dec.18 Miscellaneous expense 1000 Cash 1000 To record payment of miscellaneous expense Dec. 20 Cash 10500 Service Revenue 10500 To record service revenue Dec. 22 Advertising Expense 3000 Cash 3000 To record payment of advertisement Dec. 24 Accounts Receivable 16400 Service Revenue 16400 To record the service rendered on account Dec. 25 Accounts Payable 45000 Cash 45000 To record payment of accounts payable Dec. 26 Cash 7500 Accounts Receivable 7500 To record collections from clients Dec. 27 Utilities expense 1500 Cash 1500 To record payment of utilities expense Dec. 28 Salaries expense 5500 Cash 5500 To record payment of salary Dec. 29 Miguel Alfonso, Drawings 12000 Cash 12000

To record the withdrawal of Miguel alfonso Dec. 30 Cash 5000 Unearned Service revenue 5000 To record advance payment for legal service fees