Transaction Entries, Posting, Trial Balance, and Adjusting Entries Market Probe, a market research firm had the following transactions in June, its first month of operations 1 J Witson invested personal funds in exchange for common stock $24,000 2 Purchased the following Office Equipment 11,040 Office Supplies 2,840 paid cash of $4,000, with the balance due in 60 days 3 Paid June rent 875 4 Contracted for 3 months of advertising, paying 310 per month Paid for the advertising in advance 5 Signed a 6 month contract with electronics firm to provide research consulting at a rate of 3,200 per month Received 2 months fees in advance of 6,400 6 Billed various customers for services rendered 5,800 7 Paid employees two weeks' salaries (five day week) 3,600 8 Paid J Winston's travel expenses to a business conference 1,240 9 Paid cash for postage to mail questionnaire 520 10 Paid employees two weeks' salaries 3,600 11 Billed various customers for services rendered 5,200 12 Collected on account from customers 7,800 13 J Winston received a cash dividend 1,500 Required a Record June transactions in the general journal form using the following accounts Cash Accounts Receivable Office Supplies Prepaid Advertising Office Equipment Accumulated DepreciationOffice Equipment Accounts Payable Salaries Payable Unearned Service Fees Common Stock Dividends Retained Earnings Service Fees Earned Salaries Expense Advertising Expense Supplies Expense Rent Expense Travel Expense Depreciation ExpenseOffice Equipment and Postage Expense b Post transactions from part (a) to the general ledger accounts c Prepare an unadjusted trial balance as of June 30 d Record adjusting journal entries in the general journal form, and post to the ledger accounts in part (b) The following information is available on June 30 Office Supplies on hand $1,530 Accrued salaries $725 Estimated life of office equipment (assume equipment was purchased on June 1) 8 years Also, make any necessary adjusting entries for advertising and for service fees indicated by the June transactions (assume original transactions occurred June 1)

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Transaction Entries, Posting, Trial Balance, and Adjusting Entries Market-Probe, a market research firm had the following transactions in June, its first month of operations: 1

Transaction Entries, Posting, Trial Balance, and Adjusting Entries Market-Probe, a market research firm had the following transactions in June, its first month of operations:

1	J. Witson invested personal funds in exchange for common stock	$24,000
2	Purchased the following
	Office Equipment	11,040
	Office Supplies	2,840
	paid cash of $4,000, with the balance due in 60 days.
3	Paid June rent.	875
4	Contracted for 3 months of advertising, paying	310
	per month. Paid for the advertising in advance.
5	Signed a 6-month contract with electronics firm to provide
	research consulting at a rate of	3,200
	per month. Received 2 months fees in advance of	6,400
6	Billed various customers for services rendered.	5,800
7	Paid employees two weeks' salaries (five-day week).	3,600
8	Paid J. Winston's travel expenses to a business conference.	1,240
9	Paid cash for postage to mail questionnaire.	520
10	Paid employees two weeks' salaries.	3,600
11	Billed various customers for services rendered.	5,200
12	Collected on account from customers.	7,800
13	J. Winston received a cash dividend.	1,500

Required

a. Record June transactions in the general journal form using the following accounts: Cash; Accounts Receivable; Office Supplies; Prepaid Advertising; Office Equipment; Accumulated DepreciationOffice Equipment; Accounts Payable; Salaries Payable; Unearned Service Fees; Common Stock; Dividends; Retained Earnings; Service Fees Earned; Salaries Expense; Advertising Expense; Supplies Expense; Rent Expense; Travel Expense; Depreciation ExpenseOffice Equipment; and Postage Expense

b. Post transactions from part (a) to the general ledger accounts.

c. Prepare an unadjusted trial balance as of June 30.

d. Record adjusting journal entries in the general journal form, and post to the ledger accounts in part (b). The following information is available on June 30:

Office Supplies on hand	$1,530
Accrued salaries	$725
Estimated life of office equipment (assume equipment was purchased on June 1)	8	years

Also, make any necessary adjusting entries for advertising and for service fees indicated by the June transactions (assume original transactions occurred June 1)