Maria Gonzalez opened a business called Gonzalez Engineering and recorded the following transactions in its first month of operations. Jun.1Maria Gonzalez, the owner, invested $108,000 cash, office equipment with a value of $7,000, and $64,000 of drafting equipment to launch the company. Jun.2The company purchased land worth $51,000 for an office by paying $9,100 cash and signing a long-term note payable for $41,900. Jun.2The company purchased a portable building with $53,000 cash and moved it onto the land acquired on June 2. Jun.2The company paid $4,200 cash for the premium on a 15-month insurance policy. Jun.7The company completed and delivered a set of plans for a client and collected $7,800 cash. Jun.12The company purchased $22,400 of additional drafting equipment by paying $11,500 cash and signing a long-term note payable for $10,900. Jun.14The company completed $17,200 of engineering services for a client. This amount is to be received in 30 days. Jun.15The company purchased $1,350 of additional office equipment on credit. Jun.17The company completed engineering services for $22,800 on credit. Jun.18The company received a bill for rent of equipment that was used on a recently completed job. The $1,500 rent cost must be paid within 30 days. Jun.20The company collected $8,600 cash in partial payment from the client billed on June 14. Jun.21The company paid $2,000 cash for wages to a drafting assistant. Jun.23The company paid $1,350 cash to settle the account payable created on June 15. Jun.24The company paid $1,025 cash for minor maintenance of its drafting equipment. Jun.26Maria Gonzalez withdrew $9,560 cash from the company for personal use. Jun.28The company paid $2,000 cash for wages to a drafting assistant. Jun.30The company paid $2,660 cash for advertisements on the web during June. Descriptions of items that require adjusting entries on June 30, 2017, follow. a) The company has completed, but not yet billed, $7,600 of engineering services for a client. b) Straight-line depreciation on the office equipment, assuming a 5-year life and a $3,550 salvage value, is $80 per month. c) Straight-line depreciation on the drafting equipment, assuming a 5-year life and a $17,400 salvage value, is $1,150 per month. d) Straight-line depreciation on the building, assuming a 25-year life and a $11,000 salvage value, is $140 per month. e) The balance in prepaid insurance represents a 15-month policy that went into effect on June 1. f) Accrued interest on the long-term note payable is $90. g) The drafting assistant is paid $2,000 for a 5-day work week. 2 days' wages have been incurred but are unpaid as of month-end.