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On May 1st 2020, Sylvie Bernier start operating a new business called Diving school. During the month, the following transactions occurred : 1) The owner

On May 1st 2020, Sylvie Bernier start operating a new business called Diving school. During the month, the following transactions occurred :

1) The owner invested $8,000 cash into the business.

2) Paid $450 for employee salaries.

3) Received 1800$ for diving lessons to be given in June.

4) Purchased 800$ of supplies on credit

5) $600 of services were provided to several clients on credit.

6) The owner withdrew $1,000

7) Paid $2400 for renting space (next 6 months)

8) Salaries were $350 (not $450)

9) Due to a schedule change, 35% of the diving lessons were given in May (rather than 100% in June)

10) A new computer was purchased for $4,380 on credit. Straight-line depreciation, 4 years. 825$ as residual value.

11) Used 325$ of supplies

12) The withdrawal amount was $3,000 (not 1000$)

13) Any missing JE you should record?

Required : Prepare journal entries, T account, F/S (3) , Closing entries

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