Northeastern Illinois University Summer 2018 ACTG 321 Assigned HW 1: Review of basic ournal entries and adjusting entries Due date: 5/23/2018 (Wed.) at the beginning of class Note: This homework assignment accounts for 5 p (1) it is incomplete or past due, (2) most of your work is incorrect, or (3) answers are not specified. One or more points will be deducted if the instruction is not followed or part of the answers provided is incorrect. oints. No point will be given when Instruction: Super Plumbing Inc. completed the following TEN transactions during June 2017, its first month of operation. Assume that the company makes adjustments at the end of every month. Record these transactions in general journal entry form. Style conventions for journalizing must be followed. For example, date is entered first for each transaction and do not abbreviate account titles. Explanations of transactions are not required. Please use correct and complete account titles. Otherwise, points will be deducted. June 1 Purchased equipment in the amount of S 40,000 by signing a one-year note with a stated interest rate of 6% per year. The interest and principal of the note will be paid on the maturity date (5/31/2018). 2 Prepaid S 600 cash for four-month advertisement (from 6/1/2017 to 9/30/2017) Provided plumbing services of $5,600 for $ 1,400 cash and the remainder on account. Received S 4,300 cash in advance for maintenance services to be performed in the future. Purchased S 1,780 of supplies on account. Collected S 1,200 cash from accounts receivable Accrued unpaid June salaries of S 3,600 Counted supplies and determined that $ 420 of supplies (purchased on June 17) remains on hand at the end of June. Adjusted for supplies expense. Adjusted for June advertising expense (see June 2). Accrued June interest on the note (see June 1). 8 13 17 22 30 30 30 30