Create general journal and T-account for these transactions:

1 June 1 2 June 1 3 June 3 4) June 4 5 June 5 6 June 6 7 June 7 8 June 8 9 June 9 10 June 10 11 June 11 Your investor contributed $5 million cash to purchase a share of your company which you record as common stock. Signed a 10-year note for a $1.5 million bank loan which includes a 4% annual interest rate, . Purchased property A with $120,000 cash. (Reminder Real Estate, not "PPE") Received a $7,000 rent payment from tenants for May rental of one of your properties (the tenants are late in their payment) Purchased property B with $200,000 cash. Paid $12,000 wages owed to employees for work conducted in May. Received a $5,000 rent payment for the full month of June (again tenants were late and should have paid on June 1). Purchased property C with $220,000 cash. Received $6,000 cash for consulting conducted in May. Paid $500 for utilities that were invoiced in, and expensed in, May. You have secured an advertising billboard over the freeway. The design of the billboard costs $1,000 (which you pay today), and the monthly advertising fee will be $4000 (payable monthly - and only recognized at end of each month). You will receive the advertising in June for free as part of the contract promotion. You made an agreement with a web-developer to have your website redesigned. The cost will be $3000 and will be completed in August, payable on completion. You performed real estate consulting services this week and invoiced the client $14,000. Paid a $7,000 invoice for legal fees incurred on May 27. You purchased, with cash, a new $55,000 SUV to get you around town (previously you walked or used public transport). The expense associated with this automobile will be recognized each year for five years, beginning after one year of the asset's life. (Account name AUTOMOBILES) Received $5,000 cash today for the rental of your function hall associated with Property B for rental today June 16. Purchased property D with $160,000 cash. Purchased $1,000 office supplies for cash. Purchased property E with $80,000 cash. Received a $4,000 rent payment for the month of July. 12 June 12 13 June 13 14 June 14 15 June 15 16 June 16 17 June 17 18 June 18 19 June 19 20 June 20 21 June 21 22 June 22 23 June 23 24 June 24 25 June 25 26 June 26 27 June 27 28 June 28 Purchased a $350,000 building with $100,000 cash and a note to the seller for the remainder. The building is to be used as your office (i.e. you will not rent this). This will be recorded under PPE. Paid $18,000 rent for a temporary office for July and August until your new building is ready (your parents kicked you (i.e. your office) out of their garage as they also bought a new car) Congratulations! The Boston Real Estate Society awarded your company a $10,000 cash prize for excellence in services to the profession. We will need to include this as revenue. (For the purposes of this activity, let's account for it as miscellaneous Received a $7,000 payment for a consulting job that will be performed in July. Purchased property F with $155,000 cash. Received a $7,500 rent payment for the month of July. Performed $2,000 consulting services today and will prepare and send the invoice this week. Received a $6,000 rent payment for the month of July. onthly $5,000 radio advertising subscription for July advertising (which unfortunately increased to $5000 from $4500) Prepaid the $4,000 billboard advertising for the month of July. Adjusting Entries Recognize the June radio advertising incurred ($4,500). Recognize your June TV advertising incurerd ($2,000) which you have not yet paid for. Recognize the interest incurred on the note from transaction 2 for June, to be paid in July. Recognize $20,000 of wages owed for June, that will be paid to employees early July. Recognize the entire yearly depreciation on your computer equipment of $3,000. Recognize the $15,000 rent revenue for June ($10,000 of which was prepaid in May). 29 June 29 Paid your 30 June 30 31 June 30 32 June 30 33 June 30 34 June 30 35 June 30 36 June 30