Priblem #2 Petey Painter (FYI... no "Yeps" in this one) Petey Painter has been in business for three years. During June of the current year the company, "Paint Me".completed the following transactions 6/1 Paid Plent on the shop space for three months in advance-$3.000 Completed a paint job and collected $1,500 in cash 6/3 Purchased equipment for cash-$400 64 Purchased supplies on accours- $350 625 6/8 6/9 6/10 6/13 Petey withdrew $250 for groceries Colected $1000 from a customer who's job vas completed last month, Made a payment on the accounts payable balance-$800 Made a payment on the note payable-$2,000 6/15 Completed a paint job and collected $2.500 in cash 6/18 Completed a small paint job on account $300 6/21 Purchased supplies for cash-$150 * Paid Employee wages-$1850 * Paid the utility bill-$700 wes Completed a paint job and collected $1,600 in cash *** Petey wrote himself a check for $500 for personal use ASSETS Cash Date BEG BAL Accounts Receivable Supplies Prepaid Rent Equipment Trucks 16,000 2,000 450 81,000 40,000 LIABILITIES OWNER'S EQUITY 1) Revenue (+) 2) Expenses (-) 3) Investments Accounts Payable Notes Payable Capital 3,500 20,000 42,950 Explanation Beg Balances 1-Jun 3-Jun 4-Jun 5 5-Jun 8-Jun 9-Jun + 9 10-Jun 0 13-Jun 1 15-Jun 2 10-Jun 3 21-Jun 4 24-Jun 5 25-Jun 6 29-Jun 7 30-Jun 8 "9 End Bal 16,000 2,000 450 8,000 40,000 3,500 20,000 42.950