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on June 1, 2018, Bob Lutz opened Lutz Repair Service. Make journal entries for each of the transactions listed below for the month of June. JUNE TRANSACTIONS During the month, he completed the following transactions for the co June 1. Began business by depositing $20,000 i mpany: n a bank account in the name of the company June 1. Paid the rent for the store for current month, $1,700. June 1. Paid the premium on a one-year insurance policy, $1,920. June 2. Purchased repair equipment from Bilbao Company, $16,800. Terms were $2,400 down and $1,200 per month for one year. First payment is due June 1. June 5. Purchased repair supplies from Rusin Company on credit, $1,872. Chart Text Shape PaIM edia June 8. Paid cash for an advertisement in a local newspaper, $240. June 15. Received h repair revenue for the first half of the month, $1,600 June 21. Paid Rusin Company on account, $900. June 30. Received cash repair revenue for the last half of June, $3,900. June 30. Made a withdrawal, $1,200. REQUIRED FOR JUNE REQUIRED FOR JUNE Prepare journal entries to record the June transactions. Include the Post. Ref. column and fill in using the account numbers tisted in requirement 2. 1. 2. Open the following accounts: Cash (111), Prepaid insurance (117); Repair Supplies (119); Repair Equipment (144); Accumulated Depreciation-Repair Equipment (145); Accounts payable (212); B. Lutz, Capital (311), B. Lvtz, Withdrawals 313); Income Summary (314); Repair Revenue (411); Store Rent Expense (511); Advertising Expense (512); Insurance (513); Repair Supplies Expense (514); and Depreciation Expense- Repair Equipment (515). Post the June journal entries to the ledger accounts. 3. Prepare the June unadjusted trial balance 4. Using the following information, record adjusting entries in the general journal and post to the ledger accounts: a. One month's insurance has expired. b. The remaining inventory of unused repair supplies ts $676. c. The depreciation on repair equipment is $280 5. From the accounts in the ledger, prepare an adjusted trial balance. om Add Page Table Chart ext Using the following Information, record adjusting entries in the general journal and post to the ledger accounts: a. One month's insurance has expired. b. The remaining inventory of unused repair supplies is $676. C. The depreciation on repair equipment is $280. 4. 5. From the accounts in the ledger, prepare an adjusted trial balance. 6. From the adjuste, urial balance, prepare an income statement, a statement of owner's equity, and a balance sheet for June. 7. Prepare and post closing entries. 8. Prepare a post closing trial balance