Jessica Pothier opened FunFlatables on June 1. The company rents out moon walks and Inflatable slides for parties and corporate events. The company also has obtained the use of an abandoned Ice rink located in a local shopping mall, where its rental products are displayed and available for casual hourly rental by mall patrons. The following transactions occurred during the first month of operations. a. Jessica contributed $36,000 cash to the company on June 1 in exchange for its common stock. b. Purchased Inflatable rides and Inflation equipment on June 2, paying $24,900 cash. c. Received $6,950 cash from casual hourly rentals at the mall on June 3. d. Rented rides and equipment to customers for $12,150. Received cash of $4,500 on June 4 and the rest is due from customers. e. Received $5,100 from a large corporate customer on June 5 as a deposit on a party booking for July 4. f. Began to prepare for the July 4 party by purchasing and receiving various party supplies on June 6 on account for $970. g. On June 7, paid $7,600 in cash for renting the mall space this month. h. On June 8, prepaid next month's mall space rental charge of $7,600. 1. Received $1,500 on June 9 from customers on accounts receivable. J. Paid $2,600 for running a television ad on June 10. k. Paid $4,200 in wages to employees on June 30 for work done during the month. Requirement General Journal General Ledger Trial Balance Analysis Prepare the journal entries to record the transactions (a) through (k). (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet 1 2 345678 11 > Jessica contributed $36,000 cash to the company on June 1 in exchange for its common stock. Record the transaction. Note: Enter debits before credits. Date June 01 General Journal Debit Credit Record entry Clear entry View general journal < Requirement General Ledger Requirement General Journal General Ledger Trial Balance Analysis The ending balance values from the General Ledger tab flows through to the Trial Balance below. FUNFLATABLES Trial Balance June 30, 2020 Total Account Title < General Ledger Analysis > Debit Credit S 0 Requirement General Journal General Ledger Trial Balance Analysis Refer to the revenues and expenses shown on the unadjusted trial balance to calculate preliminary net income and net profit margin. (Round your Net Profit Margin answer to 1 decimal place.) Preliminary Net Income Net Profit Margin % Determine whether the net profit margin is better or worse than the 30.0 percent earned by a close competitor. Trial Balance Analysis