JOURNAL ENTRIES

The following transactions took place for a company owned and operated by Elena during June 2019, the first month of operations:

• June 1. Elena contributed $300,000 cash to the business and a laptop computer valued at $2,880. Elena plans to use the computer in the business for a period of 4 years. The residual value of the computer at the end of the 4 years is estimated to be zero.
• June 4. Received $2,400 from Vincent for services to be performed in July.
• June 5. Received $4,000 for services performed for Chloe.
• June 10. Purchased mobile phone to be used in the business. The purchase price of $1,200 is due to be paid later.
• June 12. Invoiced Claire $8,500 for services performed.
• June 13. Paid $2,200 salary to the office receptionist.
• June 16. Paid the $1,200 purchase price of the mobile phone purchased previously.
• June 17. Claire paid $4,250 cash for the services invoice above and agreed to pay the remaining balance on July 5.
• June 20. Purchased a small building for the company. The purchase price was financed via a mortgage loan of $140,000 and a cash payment of $28,000 from the business bank account.
• June 23. Received bills for the business for water and electricity use of $120 and mobile phone use of $250.
• June 24. Paid $1,000 for advertising for the business from the business bank account. The advertising company already run ads for the business for that amount.
• June 26. Took the laptop computer to a repair shop to be repaired. The repairs cost incurred was $100, with the amount to be paid within 30 days.
• June 27. Paid $250 for 1 month worth of rent for an office covering the period 1 July to 30 July.
• June 29. Purchased office supplies for $350 in cash.
• June 30. Paid $28,000 on the mortgage loan. That amount includes $2,800 interest incurred on the loan until 30 June.
• June 30. Withdrawn $5,000 cash from the business.

REQUIRED:

Please complete the journal entries below to record the effects of all business transactions for Elena's business for the period ended 30 June 2019

June 1 Dr 300,000 Cr 300,000 June 1 Dr 2,880 Cr 2,880 June 4 Dr 2,400 Cr 2,400 June 5 Dr 4,000 Cr 4,000 June 10 Dr 1,200 Cr . 1,200 June 12 Dr 8,500 Cr . 8,500 June 13 Dr 2,200 Cr 2,200 June 16 Dr 1,200 Cr 1,200 June 17 Dr 4,250 Cr 4,250 June 20 Dr 140,000 Cr 140,000 June 20 Dr 28,000 Cr 28,000 June 23 Dr 120 Cr 120 June 23 Dr 250 Cr - 250 June 24 Dr . 1,000 Cr 1,000 June 26 June 26 Dr 100 Cr 100 June 27 Dr 250 Cr 250 June 29 Dr 350 Cr 350 June 30 Dr 2,800 Cr 2,800 June 30 Dr 25,200 Cr 25,200 June 30 Dr 5,000 Cr 5,000