The trail balance sheet of Cloud Break Consulting, Inc is dated June 30, 2019: Assets Liabilities Cash 131,000 Account Payable 159,00 0 104,000 4,000 Account Receivable Supplies Prepaid rent Inventory Notes payable salary payable Loan Payable Unearned Revenue Total Liabilities 60,000 25,000 70,000 27,000 40.000 Total current assts 266,00 0 354,000 50,000 190.00 Total owner's equity land 45,000 building 300,000 Shareholder's Equity Accumulated -155,000 Common Stocks depreciation -building Retained Eaming 52,000 Total fixed asset 102,000 456,00 Total Liabilities and Total Assets Equity 456,000 During the month of June, the business incurred the following transactions: 1. Deposited $4,000 cash in the business's bank account. The company received the cash and issued 70% common stocks, and 30% preferred stocks 2. The company purchased a new furniture for $3,750 on account from IKEA 3. The company bought equipment, paying cash, 8750 4. The company purchased office supplies for $2000 cash. 5. The company provided services to the Walker Company for $12,000 on account 6. The company paid $500 to IKEA 7. The company received $4,000 in cash for services provided to a new customer. 8. Shortly after opening the business, the company paid the month's rent of $8500 9. One customer declared his bankrupt. So the Cloud Break Consulting failed to collect 1% of its accounts receivable (bad Debt expense). 10. The company paid $4000 cash to repair car. 11. The company received $8,200 cash from Walker Company 12. Declared and paid dividends of $1600. 13. Collecting 80% of accounts receivable. 14. The company paid 50% of its accounts payable. 15. Supplies on hand at month-end, 53000 16. Salary owed but not paid yet $2000 17. Nine months of rent ($27,000) were paid in advance on April 1, 2019. No rent expense has been recorded since that date. 18. $10.000 out of the unearned service revenue was earned during lune. 19. The loan accrues interest at 2.5% per month. No interest was paid in June 20. The bookkeeper recorded a payment to accounts payable of 5410 as $140 21. Income tax is 2.5% 22. EFT payment of insurance expense, $4000. Required: Record theses business transactions in Journal entry, and create the financial statements Journal entry of Cloud Break Consulting, Inc is dated June 30, 2019 No Account Debit Credit 1 3 4 5 6 10 11 12 1.3 14 15 16 17 18 15 20 11, 22 23 24 25 Income Statement Revenue Less: Expenses Retained Earnings Statement The trail balance sheet of Moe's Mowing, Inc is dated June 30, 2019 Assets Liabilities Total Assets Total Liabilities and Shareholder's Equity 21. Income tax is 2.5% 22. EFT payment of insurance expense, S4000. Required: Record theses business transactions in Journal entry, and create the financial statements