PREPARE A GENERAL JOURNAL

Account No.	Name
100	Cash
110	Accounts Receivable
130	Office Supplies
140	Prepaid Rent
160	Music Equipment
161	Accum Depn: Music Equipment
210	Accounts Payable
220	Wages Payable
221	Telephone Payable
225	Interest Payable
230	Unearned Revenue
250	Bank Loan Payable
300	Capital
310	Income Summary
350	Withdrawals
400	Revenues
516	Wages Expense
541	Telephone Expense
543	Rent Expense
544	Office Supplies Expense
560	Depn Expense: Music Equipment
571	Interest Expense

the details of the end of month adjustments for June are as follows:

Music Equipment owned by the business: original purchase price was $47,000, estimated useful life was 7 years, and estimated residual value was $8,900 at the end of the useful life. Depreciation is calculated on a monthly basis using the straight line method. The monthly depreciation charge is calculated as the yearly depreciation expense divided by the number of months in a year.

A number of music lessons totalling $2,300 were provided during the month of June for D-Funkt Records but not yet invoiced.

The estimated telephone bill payable as at the end of June is $120.

Instructors work every single day during the week including weekends and are paid on a periodic basis. Wages were last paid up to and including June 15. Wages incurred after that day (from June 16 to June 30 inclusive) are estimated to have been $580 per day.

Interest expense incurred during the month of June but not yet paid to ZNZ Bank for the bank loan is $930.

Provided $2,720 worth of music lessons during the month of June in relation to the cash received in advance from Dan Soul on June 9.

Office supplies totaling $1,089 are still on hand at June 30.

$3,360 of worth prepaid rent expired during the month of June.