From the following transactions for Robel Company, complete the entire accounting cycle. The chart of accounts

includes account number and name of the account as follows:

Assets Owner's Equity

111

Cash

311

R. Kenaw, Capital

112

Accounts Receivable 312

R. Kenaw, Withdrawals

114

Prepaid Insurance

313

Income Summary

115

Supplies

Revenue

121

Equipment

411

Repair Revenue

122

Accumulated Depreciation, Equipment

Expenses

Liabilities

511

Insurance Expense

211

Accounts Payable

512

Advertising Expense

515

Depreciation Expense, Equipment

212

Salaries Payable

513

Rent Expense

514

Supplies Expense

On May 1, 2014, Robel opened Robel'sRepair Service. During the month, he completed the following

transactions for the company:

2014

May.

1Began business by depositing Br10,000 in a bank account in the name of the company.

1 Paid the rent for the store for current month, Br425.

1

Paid the premium on a one-year insurance policy, Br480.

2

Purchased repair equipment from Chora Company, Br4,200. Terms were Br600 down and Br300 per

month for one year. First payment is due June 1.

5 Purchased repair supplies from Birhan Company on credit, Br468.

8 Paid cash for an advertisement in a local newspaper, Br60.

15 Received cash repair revenue for the first half of the month, Br400.

21 Paid Birhan Company on account, Br225.

31 Received cash repair revenue for the last half of May, Br975. 31 Made

a withdrawal of Br300.

Adjustment Data on May 31

a.

One month's insurance has expired.

b.

The remaining inventory of unused repair supplies is Br169.

c.

The estimated depreciation on repair equipment is Br70.

Required: