Answer Happy

Neko Case decides to open a cleaning and laundry service nearthe local college campus that will operate as a soleproprietorship. Neko Case incurred the following transactionsduring the month of June 2020.June 1 Neko Case invested $20,000 in cash to start a cleaning andlaundry business on June 1.June 2 Purchased equipment for $5,000 paying $3,000 in cash and theremainder due in 30 days.June 5 Purchased supplies for $1,200 cash.June 10 Received a bill from College News for $300 for advertisingin the campus newspaper.June 12 Cash receipts from customers for cleaning and laundryamounted to $2,400.June 20 Billed the Lion Soccer Team $450 for cleaning and laundryservices.June 25 Paid $300 to College News for advertising that waspreviously billed in Transaction 4.June 28 Neko Case withdrew $1,500 from the business for livingexpenses.June 30 Incurred utility expenses for month on account, $500.June 30 Paid salaries of $600 to student workers.Requirements:3) Prepare necessary T accounts4) Prepare a trial balance on June 30, 2020. Other data: a) Theoffice equipment has an estimated useful life of 50 months withzero salvage value b) The physical count revealed $200 supplies onhand at the end of the month.