Module 2 Checkpoint Following are the June transactons for Advantage Tennis Lessons: 1. K. Carli invested $22,000 cash to start the business. 2. Purchased tennis supplies costing $1,100 on account from Sportstore, Inc. 3. Paid $1,600 cash for rent for the month of June. 4. Purchased tennis equipment costing $9,000; paid $1,500 cash and signed a promissory note payable for the balance due. 5. Billed a local tennis club for tennis lessons given, $3,200. 6. Purchased a one-year property insurance policy for $900 cash. 7. Received $1,800 cash in advance from a senior citizen's group for three months of tennis lessons to be given to the group beginning in July. 8. Made a payment on account to Sportstore, Inc. for $1,100 cash. 9. Received $2,700 cash from a large tennis organization for tennis lessons given. 10. Received a bill for equipment repairs, $500--the bill will be paid in July. 11. Received $2,400 cash on account from the previously billed tennis club. (12. K. Carli withdrew $600 cash for personal use. 13. Paid $400 cash for the June salary of an office assistant. Instructions: A. Post the effect of the transactions to the appropriate T-accounts. B. Balance the accounts and prepare a trial balance. ADVANTAGE CORPORATION TRIAL BALANCE JUNE 30 DR CR Cash Accounts Receivable Tennis Supplies Prepaid Insurance Tennis Equipment Accounts Payable Notes Payable Unearned Service Revenue K. Carli, Capital K. Carli, Drawing Service Revenue Salaries Expense Rent Expense Repairs Expense Totals Module 2 Checkpoint GENERAL LEDGER OF ACCOUNTS LIABILITIES ASSETS OWNER'S EQUITY Service Revenue DR CR Cash DR CR Tennis Supplies DR CR Accounts Payabl DR CR K. Carli, Capital DR CR Salaries Expense DR CR Bal Bal Bal Bal Bal Prepaid Insurance DR CR Notes Payable DR CR K. Carli, Drawing DR CR Rent Expense DR CR Bay Bal Bal Bay Bal Accounts Receivable DR CR Tennis Equipment DR CR Unearned Revenue DR CR Repair Expense DR | CR Bal Bal Da