Proprietor: Ms. Nicole Coffeur Name: Teenage Style Bag Description: Hair and Beauty Salon The business has the following opening balances: Cash At Bank Account Receivable Motor Vehicle Account Payable Bank Loan (due 2022) Hair Styling Equipment Hair Styling Supplies Capital Transactions: $11,034 $21,713 $36,827 $8,636 Additional Information: Bank loan interest rates (% per year) Motor vehicle useful life (years) Motor vehicle scrap value ($) Insurance paid for (months) 11 3 2,009 $25,472 Rent paid for (months) $17,660 Hair styling equipment useful life (years) 3 $855 Hair styling equipment scrap value ($) 3,143 ? Closing stock of hair styling supplies on 30/6 ($) 768 Staff work a 14 day fortnight and are paid on the 15th day. Date Description Amount Date Description Amount 1-Jun Paid General Insurance $2,982 3-Jun Facial services fees - Cash $1,414 3-Jun Rent of Business Premises $3,998 5-Jun Hair styling fees - Account $1,824 8-Jun Facial services fees - Cash $1,378 13-Jun Advertising Expense - Cash $699 13-Jun Receive Payment from Account Customers $1,448 13-Jun Manicure services - Account $1,228 14-Jun Sundry Expenses $226 15-Jun Staff Wages $2,282 16-Jun Purchase books and magazines $100 17-Jun Payment to Account Payable $762 17-Jun Manicure services - Cash $1,120 18-Jun Purchase hair styling supplies - account $763 18-Jun Hair styling fees - Account $1,595 19-Jun Motor Vehicle Expenses $499 20-Jun Cash Withdrawals by Owner $1,055 22-Jun Manicure services - Account $1,170 23-Jun Advertising Expense - Account $1,507 24-Jun Additional cash contributed by owner $2,549 25-Jun Manicure services - Cash $1,099 25-Jun Payment to Account Payable $896 25-Jun Hair styling fees - Cash $1,358 28-Jun Facial services fees - Cash $1,435 26-Jun Receive Payment from Account Customers 29-Jun Hair styling fees - Cash $1,020 $1,110 29-Jun Staff Wages $2,282 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 hair styling services, manicure services and facial services. 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.