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m/lrn/takeAssignment/takeAssignmentMain.do?invoker-assignments&takeAssignmentsessionLocator-assignment.n : Set up T accounts for Cash; Accounts Receivable; Supplies; Accounts Payable; Clay Potter, Capital; Clay Potter, Drawing; Professional Fees; and Operating Expenses. If

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m/lrn/takeAssignment/takeAssignmentMain.do?invoker-assignments&takeAssignmentsessionLocator-assignment.n : Set up T accounts for Cash; Accounts Receivable; Supplies; Accounts Payable; Clay Potter, Capital; Clay Potter, Drawing; Professional Fees; and Operating Expenses. If an amount box does not require an entry, leave it blank a. In the T accounts, record the following transactions of Potter Pool Services for June, identifying each entry by number: 1. Potter invested $12,500 cash in the business. 2. Purchased supplies on account, $6,250. 3. Paid operating expenses, $5,500. 4. Billed clients for fees, $7,440. 5. Received cash from cash clients, $4,700. 6. Paid creditors on account, $1,400. 7, Received $3,100 from clients on account. 8. withdrew %1,500 cash for personal use. Cash 12,500 3 4,700 6 3,1008 5,500 1,400 1,500 Accounts Receivable 7,440 7 3,100 Supplies 6,250 com/ilrn/takeAssignment/takeAssignmentMain.do?invoker-assign ments&takeAssignmentSessionLocatora assignment.. Supplies 2 6,250 Accounts Payable 6 1,400 2 6,250 Clay Potter, Capital 12,500 Clay Potter, Drawing 1,500 Professional Fees 7,440 4,700 Operating Expenses 5,500 b. Prepare a trial balance as of June 30 for Potter Pool Services. Potter Pool Services Trial Balance expense (which has not been recorded) amounts to $1,500 for June, determine the following: Assuming that supplies 1. Net income for the month. 2. Owner's equity as of June 30. c

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