Paula Perna, a lawyer, has decided to open her own law office on June 1,20 -. On that date, she commenced business with the following assets and liabilities.

Asset Liabilities Bank$2,500Acme Finance company$8,750Law Library3,500The Stationery Store3,250Office Equipment8,250 Automobile16,500

A. Prepare a balance sheet for Paula Perna as of June 1, 20-. B. Record the beginning financial position of Paula Perna in two-column general journal. Use page number 1. This is the opening entry. C. Journalize the transactions for Paula Perna shown below. Use the following chart of accounts.

Chart of AccountsAssetsOwners EquityBank P.Perna, CapitalA/R-R.Spooner P.Perna, DrawingsA/R- T. & R. Builders Fees EarnedOffice Supplies Car ExpenseLaw Library General ExpenseAutomobile Rent ExpenseOffice Equipment Wages Expense Liabilities A/P-Acme Finance A/P-The Stationery Store

Transactions

June 1 Paid the rent for June, $500 cash. 2 Purchased typing and stationery supplies on account from The Stationery Store,$375. 3 Performed a legal service for cash, $200. 5 Performed a legal on account for R. Spooner, $350. 8 Paid $1 000 cash to The Stationery store on account. 10 Performed a legal service on account for T. & R. Builders, $1 100. 11 Received $350 on account from R. Spooner. 15 Paid $40 cash for gasoline for the business automobile. 20 Paid wages for part -time secretarial help, $250. 24 Paid $64 cash for postage. 24 Paid the regular monthly installment to Acme Finance, $320. 30 Paula withdrew $450. Of this, $400 was of person use and $50 was for gasoline for the businesses automobile.