On June 1, 20Y6, Hannah Ellis established an interior decorating business, Whitworth Designs. During the month, Hannah completed the following transactions related to the business: June June Hannah transferred cash from a personal bank account to an account to be used for the business, $48.000 Paid rent for period of June 1 to end of month, $6,510. Purchased office equipment on account, $19,340 Purchased a van for $39,100 paying $6,200 cash and giving a note payable for the remainder Purchased supplies for cash, $3,260 12 Received cash for job completed, $16,730. 15 Paid annual premiums on property and casualty insurance, $4,940 23 Recorded jobs completed on account and sent invoices to customers, $16,320 24 Received an invoice for van expenses, to be paid in July, $2,060 1 Check My Work 1 6 8 Enter the following transactions on Page 2 of the two-column journal 10 29 Paid utilities expense, $4,250. 29 Paid miscellaneous expenses, $1,300. 30 Received cash from customers on account, $10,050 30 Paid wages of employees, $6,950 30 Paid creditor a portion of the amount owed for equipment purchased on June 6, $9,360 30 Withdrew cash for personal use, $2,200

10 Purchated tapeben for canh nows 30 Pad wapes of anviseet. s5. 950 a Regearit: Jeumalize each transaction in a two-column journal beginning on Page 1 , referring to the chart of accounts in selecting the accounts to be debited and credied. (Do not insert the post reference numbers untir you bave posted the entry to the general ledger in part 2) CNOW journals do not use lines for journal explanations. Every ine on a journal page is used for debit or credit entries. CNOW journals will automatically indent a credit entry when a credit amount is entered 2 Eost (in chronological order) the joumal to a ledger or four-column accounts inserting appropriate posting references in both the journal and the ledger as each item is posted Extend the balances to the appropriate balance columns after each transaction is posted. Record DATE, POST. REF, a debif or credit and a debit or credit under BALANCE on every ine: In CNOW, Journal pages do not begin with " J. For example journal Dage 10 POST. REF is simply 10 if the ending balance is $0, at least one balance amount should be 30 3. Propare an unadiusted trial bajance for Whitworth Designs as of June 30,20Y6 4. Determine the excess of tevenues over expenses for June. 5. Can you think of any reason why the amount determined in (4) might not be the net income for June