The Bike and Hike Outlet is a retail store. Transactions involving purchases and cash payments for the firm during June 20X1 are listed below, as are the general ledger accounts used to record these transactions. GENERAL LEDGER ACCOUNTS $19,800 DE 60,000 Dr. 4,920 CE. 101 Cash 131 Equipment 201 Notes payable 205 Accounts payable 501 Purchases 503 Purchases ret. and allow. 504 Purchases discounts 611 Rent expense 614 Salaries expense 617 Telephone expense DATE TRANSACTIONS June 1 Langed Check 1101 for $2,000 to pay the monthly rent. 3 Purchased merchandise for $3,000 fron Perfect Pit Shoe Shop, Invoice 746, dated June 1; the terns are 2/10, n/30. $ purchased new store equipment for $4,900 from Middleton Company, Invoice 9067 dated June 4, net payante in 30 days. 7 Issued Check 1102 for $1,510 to Leisure Mear Clothing Company, a creditor, in paynent of Invoice 3342 of May 9. 8 Issued Check 1103 for $2.744 to Perfect Fit Shoe Shop, a creditor, in payment of Invoice 746 dated June 1 ($2,800), less a cash discount (556) 12 Purchased merchandise for $2,150 tron Joandas coat shop. Invoice 9922, dated June 9, net due and payable in 30 days. 15 Issued Check 1104 for $232 to pay the monthly telephone bill. 18 Received Credit Memorandum 203 for $650 from Juandas coat Shop for detective goods that were returned the original purchase was made on Invoice 9922 dated June 9. 21 Purchased new store equipment for 59,900 from Warren Company issued a three-month promissory note with Interest at 12 percent. 23 Purchased merchandise for 55,800 from The Motor Speedway, Invoice 1927, dated June 20; terms of 2/10, n/30. 25 Issued Check 1105 for 51.350 to Juandas Coat Shop, acreditor, as payment on account, Invoice 7416 dated May 28. 28 Issued Check 1106 for $5,684 to The Motor Speedway, 8 creditor, in payment of Invoice 1927 of June 20 (55,800) less a cash discount (5116) 30 Purchased merchandise for $2.020 fron Jogging Shoes Store, Invoice 471), dated June 263 the terms are 1/10, 5 DATE TRANSACTIONS June 1 Issued Check 1101 for $2,800 to pay the monthly rent. 3 Purchased merchandise for $3,000 from Perfect Fit Shoe Shop, Invoice 746, dated June 1; the terms are 2/10, n/30. Purchased new store equipment for $4,900 from Middleton Company, Invoice 9067 dated June 4, not payable in 30 days. 7 Issued Check 1102 for $1,510 to Leinure Wear Clothing Company, a creditor, in payment of Invoice 3342 of May 9. 8 Issued Check 1103 for $2.744 to Perfect Fit Shoe Shop, a creditor, in payment of Invoice 746 dated June 1 ($2,900), less a cash discount ($56). 12 Purchased merchandise for $2,150 from Juandas coat shop. Invoice 9922, dated June 9, net die and payable in 30 days. 15 Issued Check 1104 for $232 to pay the monthly telephone bill. 18 Received Credit Memorandum 203 for $650 from Juandas coat shop for defective goods that were returned the original purchase was made on Invoice 9922 dated June 9. 21 Purchased new store equipment for $9,900 from Warren Company issued a three-month promissory note with interest at 12 percent. 23 Purchased merchandise for $5,800 from The Motor Speedway, Invoice 1927, dated June 20; terms of 2/10, n/30. 25. Insued Check 1105 for $1,350 to Juanda Coat Shop, a creditor, as payment on account, Invoice 7416 dated May 28. 28 Tuued Check 1106 for $5,684 to The Motor Speedway, a creditor. In payment of Invoice 1927 of June 20 ($5,800). less a cash discount ($116). 30 Purchased merchandise for $2,020 from Jogging shoes store, Invoice 4713, dated June 26; the terms are 1/10, D/30. 30 Inoued Check 1107 for $5,200 to pay the monthly salaries of the employees. Required: 1. Open the general ledger accounts and enter the balances as of June 1, 20x1. 2. Record the transactions in a purchases Journal, a cash payments Journal, and a general Journal 3. Post the entries from the general journal and from the Other Accounts Debit section of the cash payments Journal to the proper general ledger accounts 4. Post the column totals from the special journals to the general ledger 5. Show how the firm's net cost of purchases would be reported on its income statement for the month ended June 30 Analyze: What total liabilities does the company have at month-end? Analyze What total liabilities does the company have at month-end? Complete this question by entering your answers in the tabs below. General Purchases Cash General Income Ledgers Journal Payments Journal Statement Analyze Post the opening balances and transactions into the appropriate ledger accounts. Cash Account No: 101 Equipment Date Debit Credit Balance Date June 1, 20X1 June 1, 20X1 Account No: 131 Credit Balance Debit Notes Payable Date Debit Account No: 201 Credit Balance Accounts Payable Dato Debit June 1, 20X1 Account No: 20+ Credit Balance Purchases Account No: 501 Purchases Returns and Allowances Account No: 503 nake Credit Dalanna Purchases Account No: 501 Account No: 503 Purchases Returns and Allowances Dato Debit Date Debit Credit Balanco Credit Balance Purchases Discounts Date Debit Account No: 504 Credit Balance Rent Expenso Date Debit Account No: 611 Credit Balance Account No: 614 Salaries Expense Date Debit Telephone Expense Date Debit Account No: 617 Credit Balance Credit Balance General Ledgers Purchases Journal > Analyze: What total liabilities does the company have at month-end? Complete this question by entering your answers in the tabs below. General Purchases Cash General Income Ledgers Journal Payments Journal Statement Analyze Record the transactions in a purchases journal as of June 20x1. PURCHASES JOURNAL Dato Invoice Purchased From Invoice Date Number Terms Purchases DR/Accounts Payable CR. 0 June 30, 20X1 Totals General Ledgers Purchases Journal Cash Payments General Journal Income Statement Analyze Record the transactions in a general journal as of June 20x1. View transaction list Journal entry worksheet Complete this question by entering your answers in the tabs below. General Purchases Cash General Income Ledgers Journal Payments Journal Statement Analyze Assuming that all relevant information is included in this problem, what total liabilitles does the company have at month-end? Total liabilities