KPMB Consulting Inc. incurred the following transactions in June.

June $1$ Sold $1,200$ shares of common stock for $$48,000$ cash.

June $2$ Purchased office equipment that cost $$36,000$ by signing a $2$ year, $7\%$ interest$-$bearing note payable.

The equipment has a useful life of $5$ years.

$3.$ June $3$ Purchased $$6,000$ of supplies on account. Hint: debit supplies

$4.$ June $4$ Performed $$2,400$ of consulting services on account.

$5.$ June $5$ New client agreed to consulting proposal with $$1,200$ of work to begin next month.

$6.$ June $6$ Paid $$7,200$ cash for a $6$ month insurance policy $($June through November$).$

$7.$ June $13$ Paid $$3,000$ cash toward payable for June $3$ purchase of supplies

$8.$ June $15$ Received $$1,440$ cash in advance for consulting services to be performed in the future

$9.$ June $20$ Performed consulting services for $$6,000$ cash.

$10.$ June $30$ Paid $$4,200$ cash for salaries this period.

$11.$ June $30$ Paid $$5,400$ cash for June rent for a short$-$term lease.

Required

Enter each of the following transactions in a general journal for KPMB Consulting Inc. Use the chart of accounts from Part One. Next, post the journal entries to ledger accounts set up in the form of T$-$accounts.