Proprietor: Mr. Isell Holmes Name: Realtor 21 Description: Real Estate Agent The business has the following opening balances: Cash At Bank Account Receivable Motor Vehicle Account Payable Bank Loan (due 2022) Furniture Promotional Material Supplies Capital Transactions: Additional Information: $14,329 Bank loan interest rates (% per year) $17,254 Motor vehicle useful life (years) $36,532 $9,874 $26,046 $28,845 $594 ? Motor vehicle scrap value ($) Insurance paid for (months) Rent paid for (months) Furniture useful life (years) Furniture scrap value ($) Closing stock of promotional materials 30/6 ($) Staff work a 14 day fortnight and are paid on the 15th day. 3,530 9504330 927 Date Description Amount Date Description Amount 1-Jun Paid General Insurance $2,776 2-Jun Advertising placement fees - Cash $999 2-Jun Motor Vehicle Expenses $340 3-Jun Rent of Business Premises $3,240 5-Jun Sundry Expenses $235 6-Jun Auction commission - Cash $1,749 8-Jun Advertising placement fees - Account $1,121 10-Jun Advertising Expense - Account $1,509 11-Jun Purchase promotional materials $745 3-Jun Auction commission - Account 5-Jun Payment to Account Payable 6-Jun Rental commission - Cash 7-Jun Auction commission - Account 9-Jun Payment to Account Payable 10-Jun Rental commission - Account 12-Jun Cash Withdrawals by Owner $1,084 $1,057 $1,947 $1,196 $696 $1,488 $875 12-Jun Advertising placement fees - Cash $1,072 14-Jun Advertising Expense - Cash $694 15-Jun Staff Wages $2,871 16-Jun Advertising placement fees - Account $899 26-Jun Receive Payment from Account Customers $1,926 27-Jun Auction commission - Cash $1,765 27-Jun Rental commission - Account $1,448 27-Jun Additional cash contributed by owner $3,486 27-Jun Receive Payment from Account Customers 28-Jun Rental commission - Cash $1,442 $1,576 29-Jun Staff Wages $2,871 Comments: - Assume that this assignment involves an existing business that was purchased by the new owner on 1 June 2019. -Note the list of transactions is in date order, left to right, line by line. - Use three separate ledger accounts for revenue, namely rental commission, auction commission and advertisement placement fees. All revenues relate to the month of June. - Transactions involve cash unless specified as "Account". -Record payments for rent and insurance in prepaid accounts initially. - Information relevant to complete adjusting entries can be found in the top right section of this page. -The periods to which the rent and insurance apply commence on 1 June. - Round your calculations to the nearest dollar.