The May 31, 20XX, posting-closing trial balance for the L&L Accounting Firm appears below:

During June, the firm engaged in the following transactions:
1 Received an investment of cash from J. Long, $8,000.
3 Purchased office equipment with on account, $2,500.
7 Purchased extra office supplies with cash, $200
9 Completed bookkeeping services for Elliott Electric Company that amounted to $1,400 (payment to be received at a later date)
10 Paid the receptionist in cash for two weeks' wages, $1,500
13 Paid the amount due to Office Depot for the office equipment purchased last month, $800
14 Accepted an advance in cash for services to be done for a new client, $2,500
16 Performed consulting services and received a cash fee, $1,500.
17 Received payment on account from Sally's Salon for services performed last month, $3,200.
18 Paid amount due for the telephone bill that was received and recorded at the end of May, $260.
19 Performed consulting services for Sally's Salon and agreed to accept payment next month, $4,600.
20 Performed bookkeeping services for cash, $780.
23 Received and paid the utility bill for June, $340.
27 Paid the rent for July in advance, $2,000.
28 Received the telephone bill for June, which is to be paid next month, $220.

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L&L Accounting Firm Post-Closing Trial Balance May 31, 20XX Cash 6,000 4400 Office Supplies Prepaid Rent Prepaid hsurance Office Equipment Acc. Depreciation, Office Equipment Office Furniture 1,1301 60 2,700 50 ,00 Accounts Payable Unearned Consulting Fees Wages Payable 600 13,990 $ 20,700 S 20,700