Directions: Please complete the requirements of the following problem. Please use the workpapers I am providing. I require that you work individually on this project. You may come to me with questions, but may not use any resources other than your textbook and class notes. For the past several years, Matthew Silver has operated a landscape design business from his home on a part- ime basis. As of June 1, 2020, Matthew decided to move to rented quarters and to operate the business, which as to be known as Landscape Creations, Inc., on a full-time basis. Landscape Creations entered into the Sllowing transactions in June: un. I in. I in 2 S 48,600 in. 2 in. 5 n. 10 n. 15 n. 15 7.16 The following assets were received from Matthew Silver in exchange for capital stock of Landscape Creations, Inc. Cash $ 45,000 Supplies $ 8,775 Equipment $ 70,200 Borrowed cash from First National Bank by signing a 5-year, 9% $ 650,000 note. Paid the premiums on 12-month insurance policies. The policy expires on June 1, 2021. Paid three months' rent on a lease rental contract. $ 43,200 Received cash from clients as an advance payment for services to S 85,050 be performed and recorded them as unearned fees. Declared a dividend, payable on Jun. 30. $ 17,550 Recorded services performed on account for the period June 1-15. $ 37,300 Recorded services performed for cash customers for the period June 1-15. S 41,775 Paid staff for two weeks' salary. $ 4,680 Purchased additional equipment from Bergstrom Co. The business ousiness $ 29,450 paid half in cash and will pay the balance on June 21. Received cash payments from clients on account. $ 15,000 Paid cash for supplies. $ 13,388 Recorded services performed on account for the period June 16-20. $ 45,225 Paid Bergstrom Co. for the debt incurred on June 17. 14,725 Recorded services performed for cash customers for the period s 25175 June 16-21. Paid cash for an online advertisement $ 2,100 Received cash from clients on account. $ 17,800 1.17 19 20 20 21 2 5 4,680 2,530 Jun 28 Jun. 29 Jun. 30 Jun. 30 Jun. 30 Jun. 30 Paid staff for two weeks' salary. Paid telephone bill for June. The electricity bill for June was received; to be paid in July. Paid dividends declared on June 10. Recorded services performed for cash customers for the period June 22-30 Recorded service performed on account for the remainder of June. $ $ S S s 17.550 19,650 $ 16,200 Required: Using the attached work papers, complete the following: 1. Journalize each transaction in the General Journal, referring to the following chart of accounts in selecting the accounts to be debited and credited. 11 Cash 12 Accounts Receivable 14 Supplies 15 Prepaid Rent 16 Prepaid Insurance 18 Equipment 19 Accumulated Depreciation 21 Accounts Payable 22 Salaries Payable 23 Unearned Fees 24 Dividend Payable 25 Income Tax Payable 26 Interest Payable 27 Notes Payable 31 Capital Stock 32 Retained Earnings 33 Dividends 41 Fees Eamed 51 Salary Expense 52 Rent Expense 53 Supplies Expense 54 Depreciation Expense 55 Insurance Expense 56 Interest Expense 57 Income Tax Expense 59 Utilities & Ad Expense 2. Post the journal entries to the General Ledger. Note that you will not use all of the accounts at t! 3. Prepare an unadjusted trial balance as of June 30, 2020