Roadster Custom Center uses the accrual method of accounting, not the cash method of accounting, and recognizes revenue and expenses using the Matching Principle. On June 30, 2020, Roadster Custom Center''s Unadjusted Trial Balance was as follows:

Cash - $21,000

Accounts Receivable - 37,800

Car Parts & Supplies - 17,000

Prepaid Insurance - 800

Land - 25,000

Building - 125,000

Accumulated Depreciation - Building - 10,800

Equipment - 35,000

Accumulated Depreciation - Equipment - 30,000

Accounts Payable - 23,000

Salaries & Wages Payable - 5,000

Unearned Customizing Revenue - 8,000

Long-term Note Payable - 78,000

Runyan Capital - 75,000

Customizing Revenue - 140,000

Merchandise Revenue - 10,000

Salaries & Wage Expense - 68,000

Advertising Expense - 1,000

Merchandise Expense - 5,000

Rent Expense - 0

Car Parts & Supplies Expense - 25,000

Insurance Expense - 5,000

Utilities Expense - 13,000

Interest Expense - 0

Depreciation Expense - 0

Miscellaneous Expense - 1,000

Totals = $379,800 and $379,800

During June 2020, the Roadster Custom Center''s account records needed the following year-end adjustments:

1) The remaining Prepaid Insurance has expired as of June 30th. The new insurance policy for $2,000 will be paid on July 1st.

2) Car Part & Supplies on hand at July 1st.

3) Depreciation of building for the entire year $5,200. Equipment depreciation for the entire year is the remaining book value.

4) Joe Smith prepaid $3,000 on June 20 for a custom paint job for his car that has not been recorded to the accounting records. The paint job will be completed in August 2020.

5) Roadster's salaries and wages for the week are $5,000 for a five-day work week for Monday through Friday. June 30th is a Wednesday.

6) Car custom revenue earned, job was completed June 20th, not collected or recorded as of June 30th, $5,000.

7) Roadster collected Babson Co.'s outstanding balance of $18,000.

8) On June 29, Roadster purchased used equipment for $2,000 with a fair market value of $2,500. Depreciation cannot be reported for this equipment.

9) Roadster purchased merchandise for $1,000 on account. Merchandise is expensed when purchased.

10) On June 30th, Roadster paid $3,000 in principal and $1,000 in interest on the long-term note.

1. Record each business transaction to the General Journal using proper journal entry structure including a brief entry explanation.

2. Complete the June 30th Trial Balance Workpaper for the June 2020 Adjusted Trial Balance, Income Statement, and Balance Sheet as of June 30, 2020.