You were recently hired as an entry$-$level bookkeeper for a service business that recently opened. This is the first month in operation for the business and your first task is to record business transactions for their first month using the source documents and transaction data the owner will provide to you. Because this is a small business that does not use computerized accounting, you will apply the accounting cycle in Excel to record transactions and generate financial reporting results for the owner.

The following events occurred in June:

June $1$: Owner contributed $$50,000$in cash to the business.

June $1$: Owner purchased a company vehicle in the amount of $$15,000.$

June $3$: Owner took out a small business loan in the amount of $$25,000.$

June $5$: Owner paid rent for June, and prepaid office rent for a $6-$month period to cover July through December at $$1,195$per month.

June $5$: Owner paid business license fees in the amount of $$250$to the county.

June $5$: Owner ordered office supplies, on account, in the amount of $$750\mathrm{.}00.$

June $6$: Owner performed service for client on account in the amount of $$1,000.$

June $9$: Owner provided service for client in the amount of $$1,500.$Customer paid $$750$at time of service. Client will be billed for the balance due.

June $10$: Owner paid $$250$in advertising costs to the local paper.

June $15$: Owner recorded wages due to the part$-$time employee in the amount of $$325.$This will be paid on June $20.$

June $15$: Owner prepaid business insurance to cover July through December at the rate of $$125$per month.

June $20$: Owner paid wages due to part$-$time employee from period ending June $15.$

June $21$: Owner paid for plumbing repairs in the office in the amount of $$210.$

June $22$: Owner withdrew $$1,000$cash for personal use.

June $23$: Customer paid balance due from June $6$service in the amount of $$1,000.$

June $25$: Owner provided service to client in the amount of $$800.$Client paid at time of service.

June $28$: Owner paid balance due for office supplies purchase on June $5.$

June $29$: Owner performed service for client on account in the amount of $$2,225\mathrm{.}00.$

June $30$: Owner received telephone bill for month of June in the amount of $$155$and recorded the expense. This bill will not be paid until July.

June $30$: Last day of pay period; owner owes part$-$time worker $$325$for the June $16$through June $30$pay period. This will be paid on July $5.$

June $30$: Record depreciation on vehicle at $$250.$

Prepare Ledger$/$ T accounts $($see picture$)$