Group 5: LAUNDRY SERVICE Aug 1 The owner, V. Laundrer, invested the following in his business cash $30,000, laundry equipment $232,600, laundry supplies $21.500, pickup truck $50,000 Aug 2 Purchased insurance premiums for the year for vehicle $3,500 Aug 3 Paid six months' rent on a lease rental contract $6,000 Aug 4 Paid cash for newspaper advertisement $650 Aug 5 Received cash from clients as an advance payment for services to be provided and recorded it as unearned fees $9,400 Aug 6 Paid receptionist for two weeks salary $1,500 Aug 17 Received cash from clients for fees earned during the period August 1-17 $10,400 Aug 18 Paid cash for supplies $3,000 Aug 20 Paid telephone bill for July 225 Aug 21 Paid electricity bill for July $175 Aug 23 The owner withdrew $11,000 for personal use Aug 25 Provided services on account for the remainder of August 6,500 Aug 26 Received cash from clients for fees earned during the period August 18-26 $5,200 Aug 28 Paid miscellaneous expenses for August $170 Aug 30 Provided services on account $11,180 Aug 31 Received cash from clients on account $1000 The data needed for the end of month adjustments are: Insurance premiums expired during August is $700 Laundry supplies on hand on August 31 are $3600 Depreciation of laundry equipment for August is $6500 Rent expired during August is $1000 Wages accrued but not paid at August 31 are $1,100