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2 The following amounts summarize the financial position of Little Toal Dog Inc. on May 31, 202X Cash Balance 4800 Accounts Receivable 2400 Assets Computers net) 0 Labilities Accounts Note + Supplies + Land = + Payable Payable 750 12900 0 + Salarios Interest + Payable Payable 0 0 Shareholders' Equity Common Retained Shares Earnings 6900 7650 19500 During June 202x, the business completed these transactions: June 1: Received cash of $13500 and issued common shares June 1: Bought two computers for a total of $9750 by paying $3375 down and signing a note payable for the rest. Interest of 5% to be paid with the note payable on April 1 next year. The computers are expected to last 5 years June 5: Performed services for a client and received cash of $5250 June 9: Paid $6750 on accounts payable. June 13: Purchased supplies on account, $8250 June 20: Collected cash from a customer on account, $150 June 23: Consulted on the design of a business report, and billed the client for services rendered, $9000 June 25: Declared and paid a cash dividend of $900. June 30: Recorded the following business expenses for the month paid office rent, $1050; paid advertising. $1800. June 30: Accrued $5500 in employee salaries. Employees work 5 days each week and are paid every Friday. The month ended on a Monday. June 30: A physical count revealed that $750 worth of supplies are still on hand. Other Information: 1) In the past, Little Teal Dog Inc. has used the following accounts on their income statement: Revenue, Depreciation Expense, Interest Expense, Rent Expense, Salaries Expense, Advertising Expense, and Supplies Expense. They use the Dividends account to record dividends. Not all accounts have been used each period. Required: 1) Create all necessary journal entries for the month of June 202X. Place your answer under "Requirement 1" in the Answer" tab. Note that the dates have been pre-populated. Ensure your journal entries match the appropriate date. Explanations are not required 2) Analyze the effects of the above transactions on the accounting equation. Place your answer under "Requirement in the "Answer" tab. 3) Prepare the Income Statement for the month ended June 30, 202X. List expenses in decreasing order by amount. Place your answer under "Requirement 3' in the 'Answer tab. 4) Prepare the Statement of Retained Earnings for the month ended June 30, 202X Place your answer under "Requirement 4* in the "Answer tab. 5) Prepare the Balance Sheet at June 30, 202X. Place your answer under "Requirements in the 'Answer tab. 6) Using the method outlined in the textbook, journalize the necessary closing entries for the month ended June 30, 202X. Place your answer under "Requirement 6 in the "Answer tab