The following amounts summarize the financial position of Little Brown Dog Inc. on May $31,202\%$

Cash

$+$

Balance $2080$

Accounts

Receivable

$800$

Assets

Computers

$+$ Supplies $+$ Land

$($net$)$

$80$

$9600$

Liabilities

Accounts $+$

Payable

$6400$

Note

Payable

$+$

$+$ Salaries $+$

Interest $+$

Payable

Pavable

Shareholders' Equity

Common

Retained

Shares

Eamings

$3200$

$2960$

During June $202$X$,$ the business completed these transactions:

June $1$: Received cash of $$7200$ and issued common shares.

June $1$: Bought two computers for a total of $$4800$ by paying $$600$ down and signing a note payable for the rest. Interest of $10\%$ to be paid with the note

payable on February $1$ next year. The computers are expected to last $5$ years June $5$: Performed services for a client and received cash of $$2800.$

June $9$: Paid $$1600$ on accounts payable.

June $13$: Purchased supplies on account, $$4800.$

June $20$: Collected cash from a customer on account, $$800$

June $23$: Consulted on the design of a business report, and billed the client for services rendered, $$2000.$

June $25$: Declared and paid a cash dividend of $$480.$

June $30$: Recorded the following business expenses for the month: paid office rent, $$640$; paid advertising, $$1040.$

June $30$: Accrued employee salaries. Employees work $5$ days each week and are paid $$3000$ every Friday. The month ended on a Wednesday.

June $30$: A physical count revealed that $$400$ worth of supplies are still on hand.

Other Information:

$1)$ In the past, Little Brown Dog Inc. has used the following accounts on their income statement: Revenue, Depreciation Expense, Interest Expense, Rent Expense, Salaries Expense, Advertising Expense, and Supplies Expense. They use the Dividends account to record dividends. Not all accounts have been used each period.

Required:

$1)$ Create all necessary joumal entries $($including adjusting entries$)$ for the month of June $202$X$.$ Place your answer under "Requirement $1"$ in the Answer" tab. Note that the dates have been pre$-$populated. Ensure your journal entries match the appropriate date. Explanations are not required.

$2)$ Analyze the effects of the above transactions on the accounting equation. Place your answer