Moose Toy is a retail business owned by Alisa in Australia. Moose Toy is the best seller for collectables, craft, dolls, games and youth electronics, and one of the most popular toys they are currently selling is a tiny little character called Mighty Monkey. It is a featured toy that makes kids super happy all over the world and changed the way they think about playing.  Alisa purchases kids' favourite toys from various suppliers, and then sell them to customers.

The following transactions have occurred in Moose Toy during June 2020:

 June 1  Owner Alisa invested $80,000 cash into the business.

 June 2   Purchased a new machine and paid with an electronic transfer of $40,000.

 June 4   Purchased goods on credit from Jasper Junior worth $15,000.

 June 5   Sold goods to Korimco on credit worth $30,000.

 June 7   Received $20,000 from Korimco to reduce their account balances.

 June 13 Paid insurance expenses of $2,000 for two months using an online bank transfer.

 June 14 Purchased office supplies of $750 in cash.

 June 25 Owner Alisa withdrew $10,000 cash for personal use.

 

The additional information is available at the end of June as follows:

 Depreciation on machinery for the month is $3,500 and has not been recorded.

Insurance expense paid on 13th June contains $1,000 paid for July 2020.
Rental revenue earned but not collected or recorded for $1200.
Supplies of $450 were on hand at 30 June.
Required:

Prepare general journal entries and any adjusting entries as at 30th June in the table given below. Narrations are required.