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(B) Cody is managing and operating Ace Caddy Service at a country club during June through August 2019. Cody will rent a small office space

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(B) Cody is managing and operating Ace Caddy Service at a country club during June through August 2019. Cody will rent a small office space from the country club for $600 per month. An examination of its receipts, bills and other documents revealed the following June 1 15 17 Withdrew $2,500 from personal bank account to be used to operate Cody' business. Paid rent to country club, $600. Paid for golf supplies, $750. Arranged for the rental of 25 regular golf carts and other equipment for $2,000 per month. Paid $500 in advance, with the remaining $1,500 due on June 20. Purchased supplies, $500, on account. Received cash for services from June 1-15, S2,780. Paid cash to creditors on account, $500. Paid the remaining rental, $1,500. Purchased additional supplies on account, $400. Accept IOUs from customers on account $1,200. Paid miscellaneous expenses, $150. Received cash for services from June 16-30, $2.770. Determined supplies on hand at end of June, $400. Received cash in payment of IOUS, $800. Receive in advance cash. $300, for services next month. 20 22 30 30 30 Required: 1. Prepare joumal entries to record the above transactions in the general joumal. 2. Post the joumal entries to the ledger. 3. Prepare a trial balance as of June 30, 2019. 4. Next, prepare an income statement for the year ended June 30, 2019 and a balance sheet as at June 30, 2019

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