Journalize and post the following month-end adjustments (on General Journal page J2)

Earned but unbilled fees at June 30 were $1500

Depreciation on the equipment for the month was $500

One-twelfth of the insurance expired

A physical count showed $400 of repair supplies on hand at June 30.

Accrued but unpaid employee salaries were $400.

The company signed an agreement to purchase new equipment for $15,000. The equipment will be shipped in July.

2.Journalize and post the closing entries (General Journal page)

3.Prepare a post-closing trial balance at June 30, 2020.

4.) Prepare the Big Wave Dave June 30, 2020 Statement of Financial Position.

(c) GENERAL JOURNAL J2 Date Account Titles and Explanation Debit Credit BIG WAVE DAVE BOARD REPAIR SERVICES LTD. Dave Scott opened Big Wave Dave Board Repair Services Ltd. in June 2020. During June the following transactions were completed: June 1 Dave invested $24,000 cash in the business for 1,000 common shares. June 1 Purchased used board repair equipment for $26,000, paying $4,000 cash and the balance placed on account the equipment had a list price of $27,000). June 1 Paid $500 for the June rent June 3 Purchased board repair supplies for $1,800 on account. June 5 Purchased $2,400 on a 1-year insurance policy, effective June 1*! June 12 Billed (invoiced) customers $3,800 for repair services done in June. June 18 Paid $3,000 of the amount owed on equipment, and $400 of the amount owed on repair supplies. June 20 Paid $1,600 for employee salaries. June 21 Collected $1,400 from customers billed on June 12. June 25 Billed customers $3,000 for repair services. June 30 Received the utilities bill for June, $150, to be paid in July. June 30 Declared and paid a $500 cash dividend. Use the following Chart of Accounts created by BIG WAVE DAVE BOARD REPAIR SERVICES LTD. No other accounts will need to be created. Cash Accounts Receivable Board Supplies Prepaid Insurance Equipment Accumulated Depreciation - Equipment Accounts Payable Salaries Payable Share Capital Retained Earnings Dividends Declared Service Revenue Board Supplies Expense Depreciation Expense Insurance Expense Rent Expense Salaries Expense Utilities Expense J3 GENERAL JOURNAL Account Titles and Explanation Date Debit Credit (g) BIG WAVE DAVE BOARD REPAIR SERVICES LTD. Post - Closing Trial Balance June 30, 2020