July 1. Owner invested 250,000 cash along with Gym equipment that value of 100,000.

July 2. Paid 15,000 cash for the gym space for the month.

July 4. Purchased 20,000 of additional treadmills on credit

July 8. Completed private sessions for a group of clients and collected 40,000 in cash (1^st payment of 2).

July 9. Closed private sessions deal for 30,000 to be paid in a month

July 12. Purchased additional equipment for 10,000 in cash.

July 15. Paid an assistant 4,500 cash as wages for 10 days.

July 18. Collected 15,000 on the amount owed by the client.

July 25. Paid 12,000 cash for equipment purchased previously.

July 28. Owner withdrew 500 cash for personal use.

July 31. Paid salary of instructor 700.

1. Prepare closing journal entries to "close out" all required accounts. (Part 1 & 2 entries are not required and should not be turned in)
2. Post the journal entries into T-accounts (make sure you have a total amount for each account). Remember t-accounts do not go away. Any T-account from Part 1 & 2 whether it was affected or not needs to be included.
3. Complete the Income Statement for June 20xx.
4. I need to do a final Balance Sheet as of June 30, 20xx. This includes subtotals and totals for all categories we discussed in class.
5. I need to do a post-closing trial balance.