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Prepare a trial balance according to the following information: June 1 The company received cash of $35,000 and issued common stock to the shareholders. 2

Prepare a trial balance according to the following information:

June 1

The company received cash of $35,000 and issued common stock to the shareholders.

2

Borrowed $20,000 from the bank and signed a long-term note payable.

8

Purchased equipment with a short-term note payable for $10,000.

9

Rendered services billed at $3,000 and received cash of $3,000.

10

Performed services for a client on account, $6,500.

12

Employees worked two weeks and were paid salaries of $1,000.

15

Paid the short-term note payable from the June 8 purchase.

22

Purchased office supplies on account for $7,000.

30 Paid amount due for office supplies.
30

Paid monthly rent of $500, due on the last day of the month for the month of June.

30

Paid the monthly income taxes of $2,200.

30

The Board of Directors declared and paid dividends of $1,000.

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