repare and post journal entries, and prepare a trial balance and classified income statement (L.O. 1-6)

The following data for June 2012 are for Rusk Companys first month of operations:

June	1	Rusk Company was organized, and the stockholders invested $1,008,000 cash, $336,000 of merchandise inventory, and a $288,000 plot of land in exchange for capital stock.
	4	Merchandise was purchased for cash, $432,000; FOB shipping point, freight collect.
	9	Cash of $10,080 was paid to a trucking company for delivery of the merchandise purchased June 4.
	13	The company sold merchandise on account, $288,000; terms 2/10, n/30.
	15	The company sold merchandise on account, $230,400; terms 2/10, n/30.
	16	Of the merchandise sold June 13, $31,680 was returned for credit.
	20	Salaries for services received were paid as follows: to office employees, $31,680; to salespersons, $83,520.
	22	The company collected the amount due on the remaining $256,320 of accounts receivable arising from the sale of June 13.
	24	The company purchased merchandise on account at a cost of $345,600; terms 2/10, n/30, FOB shipping point, freight collect.
	26	The company returned $57,600 of the merchandise purchased June 24 to the vendor for credit.
	27	A trucking company was paid $7,200 for delivery to Rusk Company of the goods purchased June 24.
	29	The company sold merchandise on account, $384,000; terms 2/10, n/30.
	30	Sold merchandise for cash, $172,800.
	30	Payment was received for the sale of June 15.