The following transactions occurred during the month for Trisha. Patel, CPA:

$($Click the icon to view the transactions.$)$

Read the requirements. debits first, then credits. Exclude explanations from journal entries.$)$

June $1$: Patel opened an accounting firm by contributing $$13,800$ cash and office furniture with a fair market value of $$5,300$ in exchange for common stock. Prepare a compound entry.

$\backslash$table$[[$Date$,,$Accounts,Post. Ref.,Debit,Credit$],[$Jun$.1,$Cash,,,,$],[$Office Furniture,,,,$],[$Common Stock,,,,$],[,,v,,,]]$

June $5$: Paid monthly rent of $$1,400.$

$\backslash$table$[[$Date$,$Accounts$],[$Jun$.5,],[,],[,]]$

June $9$: Purchased office supplies on account, $$800.$

$\backslash$table$[[$Date$,$Accounts,Pos$],[$Jun$.9],[,,],[,,],[,,],[,,],[,,],[,,]]$

More info

The following four$-$column accounts of Trisha. Patel, CPA have been opened for you: Cash, $110$; Accounts Receivable, $120$; Office Supplies, $130$; Office Furniture, $140$; Accounts Payable, $210$; Utilities Payable, $220$; Common Stock, $310$; Dividends, $320$; Service Revenue, $410$; Salaries Expense, $510$; Rent Expense, $520$; and Utilities Expense, $530.$ Journalize the transactions and then post the journal entries to the four$-$column accounts. Explanations are not required for the journal entries. Keep a running balance in each account. Assume the journal entries are recorded on page $10$ of the journal.

Prepare the trial balance as of June $30,2024.$

Requirements

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More info

Jun. $1$ Patel opened an accounting firm by contributing $$13,800$ cash and office furniture with a fair market value of $$5,300$ in exchange for common stock.

Jun. $5$ Paid monthly rent of $$1,400.$

Jun. $9$ Purchased office supplies on account, $$800.$

Jun. $14$ Paid employee's salary, $$1,700.$

Jun. $18$ Received a bill for utilities to be paid next month, $$390.$

Jun. $21$ Paid $$700$ of the accounts payable created on June $9.$

Jun. $25$ Performed accounting services on account, $$5,900.$

Jun. $28$ Paid cash dividends of $$7000$