Rhoades Tax Services began business on December 1, 2015. Its December transaction are as follows.

Dec.
1. Rhoades invested $20,000 in the business in exchange for common stock.
2. Paid $1 ,200 cash for December rent to Bomba Realty.
2. Purchased $1 ,080 of supplies on account.
3. Purchased $9,500 of office equipment; paying $4,700 cash with the balance due in 30 days.
8. Paid $1 ,080 cash on account for supplies purchased December 2.
14.Paid $900 cash for assistant's wages for 2 weeks' work.
20. Performed consulting services for $3,000 cash.
28. Paid $900 cash for assistant's wages for 2 weeks' work.
30. Billed clients $7,200 for December consulting services.
31. Paid $1 ,800 cash for dividends.

1. Supplies available at December 31 are $710.
2. Accrued wages payable at December 31 are $270.
3. Depreciation for December is $120.
4. Rhoades has spent 30 hours on an involved tax fraud case during December.

When completed in January, his work will be billed at $75 per hour. (It uses the account Fees Receivable to reflect amounts earned but not yet billed.) Then post adjusting entries to their T-accounts.

Required:
Record any adjusting entries using the financial statement effects template.