The following amounts summarize the financial position of Little Teal Dog Inc. on May 31, 202X Cash Balance 4800 Accounts Receivable 2400 Assets Computers (net) 0 Liabilities Shareholders' Equity + Supplies Land = 750 19500 12900 Accounts Note Payable Payable 0 + + + Salaries Interest Payable Payable Common Shares + Retained Eamings 0 6900 7650 During June 202X, the business completed these transactions: June 1: Received cash of $13500 and issued common shares. June 1: Bought two computers for a total of $12000 by paying $3375 down and signing a note payable for the rest. Interest of 5% to be paid with the note payable on June 1 next year. The computers are expected to last 5 years. June 5: Performed services for a client and received cash of $7500. June 9: Paid $6750 on accounts payable. June 13: Purchased supplies on account, $9750. June 20: Collected cash from a customer on account, $450. June 23: Consulted on the design of a business report, and billed the client for services rendered, $9000. June 25: Declared and paid a cash dividend of $900. June 30: Recorded the following business expenses for the month: paid office rent, $1500; paid advertising, $2100. June 30: Accrued $5000 in employee salaries. Employees work 5 days each week and are paid every Friday. The month ended on a Wednesday. June 30: A physical count revealed that $1500 worth of supplies are still on hand. Other Information: 1) In the past, Little Teal 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 journal entries for the month of June 202X. 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 under "Requirement 2" in the "Answer" tab. 3) Prepare the Income Statement for the month ended June 30, 202X. List expenses in decreasing order by amount. Place your answer under "Requirement 3" in the "Answer" tab. 4) Prepare the Statement of Retained Eamings for the month ended June 30, 202X. Place your answer under "Requirement 4" in the "Answer" tab." 5) Prepare the Balance Sheet at June 30, 202X. Place your answer under "Requirement 5" in the "Answer" tab. 6) Using the method outlined in the textbook, joumalize the necessary closing entries for the month ended June 30, 202X. Place your answer under "Requirement 6" in the "Answer" tab. Enter your solution to each requirement in its specified area June 1: Requirement 1: June 5: June 9: June 13: June 20: June 23: June 25: June 30: Requirement 2: Requirement 3: Requirement 4