Please answer the following question in the format provided in order to input the answers in the space provided, thanks!
Name Dann Write out the necessary journal entries (see examples in Illustration 3.33 on page 328 of textbook) for the following: Wolfpack Consultants' opening balances for the month of June 2023 was as follows. You will also see these same opening balances in the Ledger (page of T-accounts). Wolfpack Consultants was able to expand its graphic design business in June 2023. They moved into new offices, hired more staff, and obtained more financing. Wolfpack had the following transactions in June 2023 (USE A JUNE 2023 CALENDARI): June 1 Issued 5,000 shares of common stock for $45,000 cash. 2 Purchased computer-assisted design equipment, paying $4,000 cash and signing a 2-year note payable for $26,000. Info needed for adjusting entries later: The equipment has a 5-year useful life. The promissory note has a 4.5% interest rate, and interest is payable each month, starting July 2. 5. Paid $3,600 cash for a 12-month insurance policy effective June 1. 6 Finished moving to larger offices and paid for the first two month's rent (June & July 2021) of leased office space at $4,500 per month. 7 Purchased supplies for $3,500 cash. 9 Paid semi-monthly salaries for $10,000. Salaries are paid every two weeks. The work week is five days a week. Remember, there were salaries accrued and unpaid at May 31. (See trial balance on page 1) 12 Collected $4,440 cash on account from Xavier Brothers. Wolfpack had billed this client in May when Wolfpack performed the services. (See the trial balance on page 1) 14 Completed the promised design services for Gonzaga Enterprises, who had paid $1,340 to Wolfpack in advance last month. All services relating to this payment are now completed. (See the trial balance on page 1) 15 Paid $480 cash for May's utility bill, which had been accrued at the end of May. (See the trial balance on page 1) 16. Met with a new client, Canisius Corp, who paid Wolfpack $11,000 cash in advance for design services to be performed over the next two months. 19 Visited ideal Productions, Inc agreed on the terms of a consulting project. Wolfpack will bill the client on the 20th of each month for services pertormed. 20. Billed customers $35,000 for services performed. 21 Finished the first phase of the project promised to Canisius Corp. Recognized $7,000 of revenue from the cash advance received June 15 . 23 Paid bi-weekly salaries of $10,000. 26 Received a bill for $1,500 for advertising services received during June. The amount is not due unti July 15. 27 Declared and paid $4,200 dividends to shareholders 29 Recelved $15,000 cash from clients paying on account. Be sure your name is on your journal entries before you submit them
