Jun Kathy Perry opened a business called Perry Engineering and recorded the following transactions in its first month of operations 1 Xathy Perry, the owner, invested $154,000 cash, office equipment with a value of $20,500, and $87,000 of drafting equipment to launch the company 2 The company purchased land worth $62.500 for an office by paying $25,200 cash and signing a long-term note payable for $37,300. Jon. 2 The company purchased a portable building with $41.500 cash and noved it onto the land acquired on Jude 2. Jun. 2 The company paid $11,100 cash for the premium on a 15-month Insurance policy. Jun 7. The company completed and delivered a set of plans for a client and collected $17,000 cash Jun. 12 The company purchased 536,200 ot additional dratting equipment by paying $23,000 cash and signing a long-term note payable for 523,200 JUD 10 The company completed $35,600 of engineering services for a client. The amount to to be received in jo days. Jun. 15 The company purchased $2,500 ot additional office equipment on credit. Jun. 17 The company completed engineering services for 527,400 on credit. Jun 11 The company received a bill for rent of equiprent that was used on a recently completed Job. The $2,650 rent cont must be paid within 30 days Jun. 20 The company collected $17,000 cash in partial payment from the client billed on June 14. Jun.21 The company paid $1,600 cash for wages to a drafting assistant Jun 23 The company paid $2,500 cash to settle the account payable created on June 15. Jun 24 The company paid $1.600 cash for minor maintenance of Ito drafting equipment. Jun. 26 Kathy Perry vithdrew $10,020 cash from the company for personal use. Jun.28 The company paid $1.600 cash for wages to a drafting assistant 00:30 The company paid $3,500 cash for advertisenents on the web during June Descriptions of items that require adjusting entries on June 30, 2019, follow. a) The company has completed, but not yet billed, $16,800 of engineering services for a client b) Straight-line depreciation on the office equipment, assuming a 5-year life and a $2,400 salvage value is $310 per month c) Straight-line depreciation on the drafting equipment, assuming a 5-year life and a $12,200 salvage value is $1,850 per month c) Straight line depreciation on the building, assuming a 25-year life and a $8,500 salvage value, is $110 per month e) The balance in prepaid insurance represents a 15-month policy that went into effect on June 1 Accrued interest on the long-term noto payable is $180. a) The drafting assistant is paid $1,600 for a 5-day work week. 2 days wages have been incurred but are unpold as of month-end. Requirement General General Tral Balance Income St Owners Balance Sheet Impact on Journal Ledger Statement Equity Income For transactions - review the unadjusted balance and prepare the adjusting entry necessary to correctly report the revenue carned or the expense incurred. Each adjustment is posted automatically to the general ledger and trial balance as soon as you click "record entry" Show less View transsetion for Journal entry worksheet General General Income Requirement St Owners Impact on Trial Balance Balance Sheet Journal Ledger Statement Equity Income For transactions a-9, review the unadjusted balance and prepare the adjusting entry necessary to correctly report the revenue earned or the expense incurred. Each adjustment is posted automatically to the general ledger and trial balance as soon as you click "record entry" Show less View transaction list Journal entry worksheet 1 2 3 4 5 6 7 > The company has completed, but not yet billed, $16,800 of engineering services for a client. Prepare the required adjusting entry, if any. Noter Enter debts before credits Date Jun 30 Account Title + Debit Crodit Record entry Clear entry View general Journal Regulament Onda