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$19.$ June $23$: Purchased office supplies for $$630\mathrm{.}00$ from Staples on account. The invoice number was $65498.$

$20.$ June $23$: Cash in the amount of $$3,365\mathrm{.}00$ was received on billings.

$21.$ June $28$: Billed $$6,120\mathrm{.}00$ to miscellaneous customers for services performed to June $25.$

$22.$ June $29$: Paid the bill received on June $22,$ from Computer Parts and Repairs Co with Check # $5011.$

$23.$ June $29$: Cash in the amount of $$5,799\mathrm{.}00$ was received for billings.

$24.$ June $29$: Check # $5012$ was used to pay salaries of $$810\mathrm{.}00$ to equipment operators for the week ending June $25.$ Ignore payroll taxes.

$25.$ June $30$: Received a bill for the amount of $$940\mathrm{.}00$ from O & G Oil and Gas Co$.$ The invoice number was $784537.$

$26.$ June $30$: Check # $5013$ was used to pay for airline tickets of $$2,300\mathrm{.}00$ to send the kids to Grandma Ellen for the July $4$th holiday.

Adjusting Entries $-$ Round to two decimal places.

$27.$ The rent payment made on June $17$ was for June, July, August and September. Expense the amount associated with one month's rent.

$28.$ A physical inventory showed that only $$259\mathrm{.}00$ worth of office supplies remained on hand as of June $30.$

$29.$ The annual interest rate on the mortgage payable was $7\mathrm{.}50$ percent. Interest expense for one$-$half month should be computed because the building and land were purchased and the liability incurred on June $16.$

$30.$ Record a journal entry to reflect that one half month's insurance has expired.

$31.$ A review of Byte$$s job worksheets show that there are unbilled revenues in the amount of $$5,500\mathrm{.}00$ for the period of June $28-30.$

The fixed assets have estimated useful lives as follows:

Building $-31\mathrm{.}5$ years

Computer Equipment $-5\mathrm{.}0$ years

$32.$ Office Equipment $-7\mathrm{.}0$ years

Use the straight$-$line method of depreciation. Management has decided that assets purchased during a month are treated as if purchased on the first day of the month. The building$$s scrap value is $$500\mathrm{.}00.$ The office equipment has a scrap value of $$450\mathrm{.}00.$ The computer equipment has no scrap value. Calculate the depreciation for one month.

$33.$ A review of the payroll records show that unpaid salaries in the amount of $$486\mathrm{.}00$ are owed by Byte for three days, June $28-30.$ Ignore payroll taxes.

$34.$ The note payable to Royce Computers $($transactions $04$ and $07)$ is a five$-$year note, with interest at the rate of $12$ percent annually. Interest expense should be computed based on a $360$ day year.

$[$IMPORTANT NOTE: The original note on the computer equipment purchased on June $2$ was $$120,000\mathrm{.}00.$ On June $10,$ eight days later, $$23,000\mathrm{.}00$ was repaid. Interest expense must be

calculated on the $$120,000\mathrm{.}00$ for eight days. In addition, interest expense on the $$97,000\mathrm{.}00$ balance of the loan $($$$120,000\mathrm{.}00$ less $$23,000\mathrm{.}00=$ $$97,000\mathrm{.}00)$ must be calculated for the $20$ days remaining in the month of June.$]$

Closing Entries

$35.$ Close the revenue accounts.

$36\mathrm{.}0.$ Close the expense accounts.

$37.$ Close the income summary account.

$38.$ Close the withdrawals account.

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