Darryl's Gym began operations on June 1, of the current year. You have been hired to serve as the accountant for this entity. All business trancactions for the month have been given to you. You are now required to prepare a complete set of financial records for the month of June. Detailed instructions are provided. Be sure to complete each step to assure that everything is done as required. Requirements 1. Journalize the initial transactions dated June 1 to June 30. Omit explanations for a journal entries. 2. Post the transactions to the General Journal. 3. Prepare an Unadjusted Trial Balance. 4. Complete the 10 column worksheet using the following adjustments: a. SII,000 of Unearned Service Revenue has been earned. b. One momh's rent has now been used. c. The newspaper has provided one mond's service of providing a full page ad. 4. Depreciafion on the Equipnent is $2,400. c. The cleaning company has provided one month's service at the rate of s10,000 per month. They have not been paid. f. One month of liability insurance has expired. g. Earned $3,000 by providing service to a corporate client. Payment is not due yat. 5. Journalize the adjusting eatries 6. Post the adjusting entries to the General Ledger 7. Prepare the following formal financial statements: a. Income Statcment b. Statement of Owner's Equity c. Balance Sheet Darryl's Gym Darryl's Gym Transactions June 1 The owner, Darryl Lloyd, invested $150,000 and $30,000 of equipment in the business, 1. Received a $21,000 advance payment for a 3 -month service contract to a corporation. This pays for the corporation's employees to have unlimited use of the gym for 3 months. 1 Signed a rental agreement and made a 6 month payment at the rate of $1,500 per month. 2 Hired five personal trainers with a $750 weekly salary. The salary is payable biweekly with the first payday being June 16 th. 2 Purchased a 6 month full page nowspaper advertisement, $9,000. 3 Purchased $4000 of additional Equipment and $1,200 of supplies on account. 3 Hired a cleaning company to clean the gym daily. The charge is $10,0000 per month. It is to be paid at the end of each month's services. Purchases a 3 -month liability insurance policy, $3,000. Received $40,000 for services provided. Agreed to provide onsite services to a corporate client at a rate of $2,000 per day. Received a $4,000 advance payment. 9 Did an onsite training session for a corporate client. Collected \$2,500 for providing the service. 10 Agreed to provided unlimited access to employees of a corporate client for the next three months. The payment arrangement is that the client pays $3,000 per month with all payments to be made at the end of the three month period. 12 Received $50,000 for services provided. 13 Darryl Lloyd, the owner withdrew $500 for personal use. 14 Purchased additional supplies, $400. 16 Paid employees' salaries, $7,500. 16 Received utility bill to be paid by the end of the current month, $220. 18 Paid $1,200 on an outstanding accounts payable. 19 Received $55,000 for services provided. 20 Received $25,000 for doing an onsite training seminar. 22 Sponsored a 1-day health assessment client. The seminar was well attended. Darryl's gym earned $35,000. Collected $25,000 and billed the customers for the remainder.. 24 Purchased additional supplies, $500. 26 Hired a receptionist. Promised to pay a biweekly salary of $600. The receptionist is to start at the beginning of next month. 29 Received $60,000 for services provided. 30 Paid employees salaries, $7,500