Journalist the transactions in the Account and Explanation . Journalist both normal transactions and adjustment entries at the same time. +attached below is the prior month balance statement of JUNE Transactions for JULY 2024 1 The business owner contributed a truck with a fair value of $28,250 to the business. The business issued the owner shares of common stock in exchange for this contribution. 1 Paid $2,610 cash for a six-month insurance policy. The policy begins July 1. 4 Paid $1,390 cash for office supplies. 7 Purchased $2,790 of merchandise on account with terms of 2/10, n/30. 12 Performed coaching services for a customer and received $3,480 cash. Completed a large coaching job, billed the customer, $3,950, and received a promise to collect the 15 $3,950 within one week. 17 Sold merchandise inventory on account for $8,280. Payment terms were 2/10, n/30. These goods cost the company $4,390. 18 Paid prior months accrued salaries. 20 Received $9,960 cash for performing coaching services. 22 Collected $4,140 in advance for coaching service to be performed later. 25 Collected $4, 180 cash from customer on account. 27 Received the electric bill and cell phone bill for the business totaling $1,140. (Credit Accounts Pavable) 28 Performed coaching services on account, $6,380. 30 Paid $770 on account. 31 Received cash from July 17 customer in full settlement of their debt. 31 Cash dividends of $1,290 were paid to stockholders. Adjusting Entries A. Accrued Salaries Expense, $11,200. B. Depreciation was recorded on the truck using the straight-line method. Assume a useful life of five years and a salvage value of $1,000. C. Prepaid Insurance for the month has expired. D. Office Supplies on hand, $965 E. Unearned Revenue earned during the month, $1,020. F. Accrued Service Revenue, $920. G. Six months of rent was prepaid at the end of June covering July - December. One month of rent has expired H. Another month of depreciation was recorded on the building I. Another month of depreciation was recorded on the equipment
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Journalist the transactions in the Account and Explanation . Journalist both normal transactions and
+attached below is the prior month balance statement of JUNE
Transactions for JULY 2024
1 The business owner contributed a truck with a fair value of $28,250 to the business. The business issued the owner shares of common stock in exchange for this contribution.
1 Paid $2,610 cash for a six-month insurance policy. The policy begins July 1.
4 Paid $1,390 cash for office supplies.
7 Purchased $2,790 of merchandise on account with terms of 2/10, n/30.
12 Performed coaching services for a customer and received $3,480 cash.
Completed a large coaching job, billed the customer, $3,950, and received a promise to collect the 15 $3,950 within one week.
17 Sold merchandise inventory on account for $8,280. Payment terms were 2/10, n/30. These goods cost the company $4,390.
18 Paid prior months accrued salaries.
20 Received $9,960 cash for performing coaching services.
22 Collected $4,140 in advance for coaching service to be performed later.
25 Collected $4, 180 cash from customer on
27 Received the electric bill and cell phone bill for the business totaling $1,140. (Credit Accounts Pavable)
28 Performed coaching services on account, $6,380.
30 Paid $770 on account.
31 Received cash from July 17 customer in full settlement of their debt.
31 Cash dividends of $1,290 were paid to stockholders.
Adjusting Entries
A. Accrued Salaries Expense, $11,200.
B.
C. Prepaid Insurance for the month has expired.
D. Office Supplies on hand, $965
E. Unearned Revenue earned during the month, $1,020.
F. Accrued Service Revenue, $920.
G. Six months of rent was prepaid at the end of June covering July - December. One month of rent has expired
H. Another month of depreciation was recorded on the building
I. Another month of depreciation was recorded on the equipment
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