Problem 2-60A Journalizing and Posting Transactions Cincinnati Painting Service Inc. specializes in painting houses. During June, its first month of operations, Cincinnati Painting engaged in the follow transactions: June. 1 3 8 14 Issued common stock for $25,000. Purchased painting supplies from River City Supply for $1,675 on credit. Purchased a used truck from Hamilton Used Car Sales for $13,700, paying $1,500 down and agreeing to pay the balance in 6 months. Paid $4,230 to hourly employees for work performed in June, Billed various customers a total of $10,340 for June painting jobs. Received $6,100 cash from James Eaton for a house painting job completed and previously billed. Collected $520 from Albert Montgomery on completion of a l-day painting job. This amount is not included in the June 22 bills 22 26 29 Required: 1. Prepare a journal entry for each transaction. For a compound transaction, if an amount box does not require an entry, leave it blank June Required: Togress=false 1. Prepare a journal entry for each transaction. For a compound transaction, if an amount box does not require an entry, leave it June 1 (Issued common stock) June 3 o (Record purchase of supplies on account) June 8 E (Record purchase of truck on account) June 14 (Record payment of wages) (Record purchase of truck on account) June 14 U OL (Record payment of wages) June 22 (Record performance of services on account) Tune 26 (Record collection of cash on account) June 29 Record performance of services for cash) 2. Post the journal entries to the appropriate T-accounts. Cash Accounts Receivable End. Bal. End. Bal. Supplies Trucks End. Bal End. Bal. Accounts Payable Notes Payable End. Bol End. Bal Common Stock Service Revenue opriate T-accounts. Cash Accounts Receivable End. Bal. Supplies Trucks End. Bal. Accounts Payable Notes Payable End. Bal End. Bal Common Stock Service Revenue Supplies Trucks End. Bal. End. Bal. Accounts Payable Notes Payable End. Bal. End. Bal. Service Revenue Common Stock End. Bal. End. Bal. Wages Expense End: Bal Trucks End. Bal. Notes Payable End. Bal. Service Revenue End. Bal