Enter the following on page $1$ of the general joumal.

June $11.$ Harris contributes cash of $$50,000$ and accounts recevabie of $$20,000$ to a new partnership,

Top Tier Interior Design. $5.$ Grant contributes $$12,000$ cash and $$1,000$ of supplies to the

partnership. The parters agree that $$1,500$ is a reasonable amount for the allowance for

doubttul accounts for the contributed accounts receivabie.

Paid rent for the June through Auggust, $$3,000.$

Purchased equipment payng cash, $$5,000.$

Purchased a used van for $$30,000.$ The partnership paid $$10,000$ cash as a down payment

and signed a note for the remainder.

Received an advance payment of $$9,000$ for services to be provided in the future.

Purchased supplies on credi, $$700.$

Received cash for jab completed, $$15,550.$

Recorded jabs completed an axcourt and sent invaices to custamers, $$12,200.$

Received an imvaice in the mail for van$-$related expenses, to be paid in September $$1,200.$

Paid miscetlaneous expenses, $$200.$

Paid utilites experse, $$300.$

Enter the following on page $2$ of the general joumal.

$30$ Paid wages of employees, $$6,200.$

$30$ The partiners agree to write oft $$500$ of their accounts receinable as uncolectble.

$30$ Received cash trom cusiomers on account, $$7,000.$

$30$ Paid creditor a portion of the amount awed for supples purchased earler in the

month, $$250.$

$301.$ Harris withdrew cash for personal use, $$2,500.$

Step $2$: Post the journal entries in Step $1$ to a four$-$oolumn general ledger.

Step $3$: Prepare an unad$/$usted trial balance for Top Tier Interior Design as of June $30,2020.$

Step $4$: Journalize the following adjusting entries for the end of the month.

a$.$ Supplies an hand on June $30$ are $$200.$

b$.$ The partnership uses the straight Ine method to depredate the equpment. The

estimated residual value is $$500,$ and the estimated useful ife is $5$ years.

c$.$ The partnership uses the straight:Ine method to depredate the van. The residual value

is estimabed io be $$6,000,$ and the estmabed usetul ite is $10$ years.

d$.$ Whges awed an June $30$ are $$500.$

e$.$ Rent expired during June is $$1,000.$

t$.$ Unearned revenue on June $30$ is $$2,500.$

An analysis of acDounts recevable at the end of the month indicabes that the alowsonce:

for doubtul acDounts should be reported at $$1,550.$

h$.$ Recorded accrued interest of $$115.$

Step $5$: Post the adfusting entries in step $4$ to the general ledger.

Step $6$: Prepare an adfusted trial balance for Top Tier Interior Design as of June $30,2020.$

Step $7$: Prepare a Single$-$Step Income Statement, Statement of Partners' Equity, and Classified Balance

Sheet for Top Tier Interior Design as of June $30,2020.$ The partnership agreemert stabes that net income

and net losses wil be divided according to the following: each partner will receve $10\%$ interest an their orignal

contrbutions and ary remainder will be divided equally. Treat all liabilies as current lisblikes.

Step $8$: Journalize the closing entries for the month.

Step $9$: Post the closing entries in step $8$ to the four$-$column general ledger.

Step $10$: Prepare a post$-$closing trial balance for Top Tier Interior Design as of June $30,2020.$