Using the information provided in E4-5, post Dover Direct Insurance Agency’s journal entries to the general ledger for all relevant accounts for the month ended June 30, 2022. You do not need to provide explanations.

Data from Exercises 5

The Dover Direct Insurance Agency began operations on June 1, 2022. In the month of June, the following transactions occurred:

June 2: Dover Direct’s owner invested $80,000 (the par value of the stock) cash and acquired 4,000 shares of common stock.
June 8: Dover Direct purchased $8,000 of office supplies with cash.
June 15: Dover Direct paid employees $8,000 in cash for the biweekly payroll.
June 20: Dover Direct acquired new office furniture for $25,000. The company paid $10,000 in cash and financed the remainder by issuing a $15,000 note payable to the vendor.
June 22: Dover Direct collected $120,000 in sales revenue for the month, all of which was paid in cash.

Dover uses the following chart of accounts:

Assets
100 Cash
101 Accounts Receivable
102 Office Supplies
121 Furniture

Liabilities
200 Accounts Payable
210 Notes Payable
Stockholders’ Equity
300 Common Stock

Revenues
400 Sales Revenue

Expenses
501 Wage Expense

Prepare the journal entries in the general journal format for Dover’s transactions using appropriate account numbers. Assume the journal entries are posted to the ledger.