GENERAL INSTRUCTIONS FOR JUNE

Journalize the transactions listed below.

Prepare an unadjusted trial balance.

Prepare an adjusted trial balance.

Prepare a schedule of accounts receivable.

Prepare an income statement

Prepare a retained earnings statement

Prepare a balance sheet as of June 30, 20--.

General Entries

Jun. 3 Issued Check No. 141 for $18,500 for one months advertising.

Issued Check No. 142 to make the first payment on the note, including interest of $142.

Received cash on account from Romi Architect, P.A. from May sale. The customer paid within the discount period.

Issued Check No. 143 for $3,000 for June office rent.

Issued Check No. 144 for $18,000 to pay Golden Antiques on account.

7 Received $25,000 from Supreme Hotel for decorating services.

7 Issued Check No. 145 for $3,200 to pay A & D Inc. on account.

10 Purchased merchandise on account from Golden Antiques for $45,000 (net 60).

10 Performed services on account for Fionas Fashion Co. for $21,700 (net 30).

14 Received $26,500 cash from the sale of an antique chest. The cost of the merchandise was

$16,560.

Received $19,000 cash on account from Athena & Co. for services performed on April 19.

Received $18,000 cash on account from La Epoca Beauty Boutique for services performed on March 20.

19 Received $35,000 from Innovational Ways, Inc. for decorating its entire office building.

19 Sold an antique mirror and lamp on account to Dinos Special Moments for $26,000 (net 30). The cost of the merchandise was $16,250.

21 Performed decorating services on account for Rodriguez & Associates for $17,000 (net 60).

21 Received back $8,000 worth of the merchandise that was purchased by Dinos Special Moments on June 19. The cost of the merchandise was $5,000.

25 Received $32,000 cash on account from Blue Ocean Resort for services performed on April 26.

27 Issued Check No. 146 as a 30% down payment on land with a purchase price of $31,000. Financed the remaining balance with a 12% long-term loan.

29 Issued Check No. 147 for $325 to pay the utilities bill for the month.

29 Issued Check No. 148 for $350 in payment of the telephone bill for the month.

29 Issued Check No. 149 for $450 for postage.

29 Issued Check No. 150 for $775 for business automobile expenses.

29 Issued Check No. 151 to Sophia LeBron for salary: gross amount $7,500, withholding income tax of $1,500, and FICA (Medicare and Social Security) at 7.5%.

29 Recorded the payroll tax expenses, FICA at 7.5% (employer), SUTA at 3%, and FUTA at 0.8%. (Ignore the salary limit amount for SUTA and FUTA.)