Problem $4-5$B $($Algo$)$ Record transactions, post to the Cash T$-$account, and prepare the statement of

cash flows $($LO$4-7)$

Peter loves dogs and cats. For the past several years, he has owned and operated Homeward Bound, which temporarily houses pets

while their owners go on vacation. For the month of June, the company has the following transactions:

June $02$ Obtain cash by borrowing $$19,000$ from the bank by signing a note.

June $03$ Pay rent for the current month, $$1,200.$

June $07$ Provide services to customers, $$4,900$ for cash and $$3,200$ on account.

June $11$ Purchase cages and equipment necessary to maintain the animals, $$8,100$ cash.

June $17$ Pay employees' salaries for the first half of the month, $$6,200.$

June $22$ Pay dividends to stockholders, $$1,475.$

June $25$ Receive cash in advance from a customer who wants to house his two dogs $($Chance and Shadow$)$ and cat $($Sassy$)$ while he

goes on vacation the month of July, $$1,950.$

June $28$ Pay utilities for the month, $$3,000.$

June $30$ Record salaries earned by employees for the second half of the month, $$6,200.$ Payment will be made on July $2.$

Required:

Record each transaction.

Identify the transactions involving cash.

Assuming the balance of cash at the beginning of June is $$14,400,$ post each cash transaction to the Cash T$-$account.

Prepare a statement of cash flows for the month of June, properly classifying each of the cash transactions into operating, investing,

and financing activities. Assume that the balance of cash at the beginning of June is $$14,400.$