You are provided with the following financial information for Callum Murrays Seafood restaurant. June 1 The owner invested $300,000 cash into the business to start a new restaurant. June 1 The owner invested $20,000 worth of kitchen equipment into the business (capital contribution). June 2 The owner purchased kitchen equipment for $40,000 using a bank loan. June 4 The business paid $1,600 cash for rent for the month of June for the restaurant. The business will pay rent every month until he can find a building to purchase or rent long term. June 8 Purchased food for $2,200 for cash and drinks for $2,500 on credit from G Wang. (Assume all of the drinks will also be sold by the end of June). June 8 Paid wages $1,200 cash. June 8 Cash sales of food and drinks were $1,400. Credit sales of food and drinks to D Glascott of $900. June 9 The owner purchases kitchen supplies on credit for $900 from Kitchens Everywhere. The supplies will be enough to use for 6 months. June 12 The business paid $420 cash for general expenses for the business. June 14 Credit sales made to I Coppola for $2,700 June 15 Sales of food and drink were $1,600 on credit to J Johnson and $1,200 for cash. June 16 The business paid $1,100 cash for wages. June 17 Cash sales of food were $2,900. June 18 Credit sales to L Lewis for $700 June 18 The business paid $860 cash for electricity. June 19 The owner withdrew $450 cash from the business for personal use. June 21 The business paid half of the amount the amount owing for the supplies purchased on the 9th of June. June 21 Cash sales of food and drinks were $2,350. June 22 The business purchased more food on credit for $3,000 from Wholesale Food Sales (assume the business will sell of the food by the end of June). June 23 The business repaid $1,000 for the drinks purchased on credit om June 8. June 24 Received $1,000 cash from customers who owe money for sales of food on the 15th of June. June 25 Received $1,300 cash from I Coppola for the sales made on June 14. June 25 The business paid wages of $1,300 cash. June 26 Paid back $700 cash for the drinks purchased on credit on the 8th of June. 3 June 27 The business paid the telephone expense for June for $280 cash. June 28 Sales of food and drink were $1,600 for cash and $1,400 on credit to R Liu. June 29 Received $800 cash from J Johnson for the sales made on the 15th of June. June 29 Received $1,200 cash from customers who owe money for sales of food made on credit on the 28th of June. June 30 Cash sales made were $1,800 cash. June 30 The business paid $1,600 cash for the food purchased on credit on the 22nd of June. June 30 Paid wages of $1,200 cash. Required:

(a) Process the events for the month of June in the Excel File provided for you. (33 Marks)

(b) Complete the list of accounts receivable and accounts payable in the Excel File provided to you. (5 Marks)

(c) Calculate the balance in cash at the end of June and show in the Excel File provided to you.