Having completed your Introduction to Financial Accounting module, your lecturer referred you to a small Accounting firm who needed assistance with several accounting tasks for some clients during the July/Aug Vacation: Task 1 - Preparing Journals & Financial Statements 35 MARKS Betty Crusher is a sole proprietor. During the first month of operations, she had the following events and transactions occurring however no record was made. Invested $32,000 cash into the business. Hired an administrative assistance at a salary of $1,200 per week, payable monthly. Purchased equipment for $21,000, paying $11,000 cash and the balance with a note payable. Purchased $2,800 worth of supplies on credit. Paid Office Rent of $1,500 for the month June 2 June 2 June 3 June 5 June 7 June 8 June 15 June 16 June 17 June 21 Paid $1,200 for supplies purchased on June 5. June 25 Performed Services totaling $12,800 of which $8,400 cash was received and the balance billed to the client. Billed clients for services performed $4,200. Received $6,200 for services to be performed by August. Paid $700 in insurance expense. Paid Admin Assistance for the month (4 weeks in the month) On June 30, the following adjusting entries were identified: 1. The equipment depreciates $320 per month. 2. One-quarter of Unearned Service Revenue was performed on June 29. 3. Interest on the Note Payable accrues for the period totaling $575. 4. Of the Supplies purchased on June 5, $1,640 remained on hand at the end of June. Betty had the Admin Assistant complete July and August transactions and asked the firm to prove the equality of the debits and credits which was completed and shown to her as the following Trial balance for that quarter (June-August). Betty noted that she will take the Page 1 of 5