Need adjustments, adjusted trial balance, income statement, and balance sheet.

During June 2020, the Roadster Custom Center's accounting records needed the following year-end adjustments: 1) The remaining Prepaid Insurance has expired as of June 30th. The new insurance policy for $2,000 will be paid on July 1st. 2) Car Part & Supplies on hand at December 31st $5,500 3) Depreciation of building for the entire year $5,200 Equipment depreciation for the entire year is the remaining book value. 4) Joe Smith prepaid $3,000 on June 29 for a custom paint job for his car that has not been recorded to the accounting records. The paint job will be completed in August 2020. 5) Roadster's salaries and wages for the week are $5,000 for a five-day work week for Monday through Friday. June 30th is a Wednesday. 6) Car custom revenue earned, job was completed June 29th, not collected or recorded as of June 30th $5,000 7) Roadster collected Babson Co.'s outstanding balance of $18,000 8) On June 29, Roadster purchased used equipment for $2,000 with a fair market value of $2,500. Depreciation cannot be reported for this equipment. 9) Roadster purchased merchandise for $1,000 on account. Merchandise is expensed when purchased. 10) On June 30, Roadster paid $3,000 in principal and $1,000 in interest on the long-term note. Instructions: 1) Record each business transaction to the General Journal Template provided using proper journal entry structure including a brief entry explanation. Leave a line space between each journal entry. ) 2) Complete the June 30th Trial Balance Workpaper for the June 2020 Adjusted Trial Balance, Income Statement, and Balance Sheet as of June 30, 2020. Roadster Custom Center uses the accrual method of accounting, not the cash method of accounting, and recognizes revenue and expenses using the Matching Principle. On June 30, 2020, Roadster Custom Center's Unadjusted Trial Balance was as follows: : ROADSTER CUSTOM CENTER Unadjusted Trial Balance June 30, 2020 $21,200 37,800 17,000 800 25,000 125,000 $10,800 35,000 Cash Accounts Receivable Car Parts & Supplies Prepaid Insurance Land Building Accum. Depn - Building Equipment Accum. Depn- Equip. Accounts Payable Salaries & Wages Payable Unearned Customizing Revenue Long-term Note Payable Runyan Capital Customizing Revenue Merchandise Revenue Salaries & Wage Expense Advertising Expense Merchandise Expense Rent Expense Car Parts & Supplies Expense Insurance Expense Utilities Expense Interest Expense Depreciation Expense Miscellaneous Expense 30,000 23,000 5,000 8,000 78,000 75,000 140,000 10,000 68,000 1,000 5,000 -0- 25,000 5,000 13,000 -0- -0- 1.000 $ 379.800 $379.800 During June 2020, the Roadster Custom Center's accounting records needed the following year-end adjustments: 1) The remaining Prepaid Insurance has expired as of June 30th. The new insurance policy for $2,000 will be paid on July 1st. 2) Car Part & Supplies on hand at December 31st $5,500 3) Depreciation of building for the entire year $5,200 Equipment depreciation for the entire year is the remaining book value. 4) Joe Smith prepaid $3,000 on June 29 for a custom paint job for his car that has not been recorded to the accounting records. The paint job will be completed in August 2020. 5) Roadster's salaries and wages for the week are $5,000 for a five-day work week for Monday through Friday. June 30th is a Wednesday. 6) Car custom revenue earned, job was completed June 29th, not collected or recorded as of June 30th $5,000 7) Roadster collected Babson Co.'s outstanding balance of $18,000 8) On June 29, Roadster purchased used equipment for $2,000 with a fair market value of $2,500. Depreciation cannot be reported for this equipment. 9) Roadster purchased merchandise for $1,000 on account. Merchandise is expensed when purchased. 10) On June 30, Roadster paid $3,000 in principal and $1,000 in interest on the long-term note. Instructions: 1) Record each business transaction to the General Journal Template provided using proper journal entry structure including a brief entry explanation. Leave a line space between each journal entry. ) 2) Complete the June 30th Trial Balance Workpaper for the June 2020 Adjusted Trial Balance, Income Statement, and Balance Sheet as of June 30, 2020. Roadster Custom Center uses the accrual method of accounting, not the cash method of accounting, and recognizes revenue and expenses using the Matching Principle. On June 30, 2020, Roadster Custom Center's Unadjusted Trial Balance was as follows: : ROADSTER CUSTOM CENTER Unadjusted Trial Balance June 30, 2020 $21,200 37,800 17,000 800 25,000 125,000 $10,800 35,000 Cash Accounts Receivable Car Parts & Supplies Prepaid Insurance Land Building Accum. Depn - Building Equipment Accum. Depn- Equip. Accounts Payable Salaries & Wages Payable Unearned Customizing Revenue Long-term Note Payable Runyan Capital Customizing Revenue Merchandise Revenue Salaries & Wage Expense Advertising Expense Merchandise Expense Rent Expense Car Parts & Supplies Expense Insurance Expense Utilities Expense Interest Expense Depreciation Expense Miscellaneous Expense 30,000 23,000 5,000 8,000 78,000 75,000 140,000 10,000 68,000 1,000 5,000 -0- 25,000 5,000 13,000 -0- -0- 1.000 $ 379.800 $379.800