June $3$ Issued $5,000$ shares of common stock for $$45,000$ cash.

$3$ Purchased computer$-$assisted desion equipment, paying $$4,000$ cash and signing a $2-$year note payable for $$26,000.$

Info needed for adjusting entries laterps$>$ The equipment has a $5-$year useful life. The promissory note has a $4\mathrm{.}5\%$ interest rate, and interest is payable each month, starting July $3.$

$5$ Paid $$3,600$ cash for a $12-$month insurance policy effective June $1.$

$6$ Finished moving to larger oficices and paid for the first two month's rent $($June & July $2024)$ of leased oifice space at $$4,500$ per month.

$7$ Paid salaries for $$10,000.$ Salaries are paid every two weeks. The work week is five days a week. Remember, there were salaries accrued and unpaid at May $31.($See trial balance on page $1$; look at the actual June $2024$ calendar to see what is happening$)$

$10$ Purchased supplies for $$3,500$ cash.

$12$ Collected $$4,440$ cash on account from Xevier Brothers. Wolipack had billed this client in May when Wolipack performed the services. $($See the trial balance on page $1)$

$14$ Completed the promised design services for Gonzaga Enterpises, who had paid $$1,340$ to Wolipack in advance last month. All services relating to this payment are now completed. $($See the trial balance on page $1)$

$17$ Paid $$430$ cash for May's utilly bill, which had been accrued at the end of May. $($See the tial balance on page $1)$

$18$ Met with a new client, Canisius Corp, who wrote Wollpack a check for $$11,000$ in advance for design services to be performed over the next two months.

$19$ Visited Ideal Productious che agreed on the terms of a consulting between project. Wolipack willoill ine client on the $20$ th of each month for services performed.

$20$ Billed customers $$35,000$ for senvices performed.

$21$ Paid bi$-$weekly salaries of $$10,000.$

SUMMER $2024/$ STEP $1/$ ACCT B$202/$ Cycle Problem $/$ Page $3$ of $3$

$24$ Finished the first phase of the project promised to Canisius Corp. Recognized $$7,000$ of revenue from the cash advance received June $18.$

$26$

Received a bill for $$1,500$ for advertising services received during June. The amount is not due until July $15.$

$27$ Declared and paid $$4,200$ dividends to shareholders

Received $$15,000$ cash from clients paying on account.