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Chart of Accounts Journal Ledger Instructions On June 1, 20Y6, Hannah Elis established an Interior decorating business, Whitworth Designs. During the month, Hannah completed the following transactions related to the business: June 1 6 a 1 Hannah transferred cash from a personal bank account to an account to be used for the business, $48,000 Paid ront for porlod of June 1 to end of month, $6,510. Purchased office equipment on account, $19,340. Purchased a van for $39,100 paying $8,200 cash and giving a note payable for the romander. 10 Purchased supplies for cash, $3,260. 12 Received cash for Job completed, $16,730. 15 Pald annual premiums on property and casualty insurance, S4,940. 23 Recorded jobs completed on account and sent invoices to customers, $16,320 24 Received an invoice for van expenses, to be paid in July, $2,060. Enter the following transactions on Page 2 of the two-column Journal: June 29 Pald utilities expense, $4,250. 29 Pald miscellaneous expensos, $1,300. 30 Received cash from customers on account, $10,050. 30 Pald wages of employees, $6,950 30 Pald creditor a portion of the amount owed for equipment purchased on June 6, $9,360. 30 Withdrew cash for personal uso, $2,200 Required: 1. Journakreoach transaction in a wo-column ournal boghang on Page 1, referring to the chart or accounts in selecting the accounts to be debited and credited. (Do not insert the post reference numbers until you have posted the entry to the general ledger in part 2) CNOW Journals do not use lines for journal explanations. Every Nine on a Journal page is used for debit or credit entries. CNOW foumals will automatically indent a credit entry when a cr credit amount is entered 2. Post (in chronological order) the Journal to a ledger of four-column accounts, inserting appropriate posting references in both the journal and the lodger as ench for le posted. Extend the balances to the appropriate bularyoo columis after each transaction is posted. Record DATE, POST REF, a dobit or credit and a debitor creat under BALANCE on every Nine In CNOW, Journal pages do not begin with 7. For example journal page 10 POST. REF is simply 10. the ending balance is $0, at sonst one balance amount should be $0. 3. Prepare an unaclusted trial balance for Whitworth Designs as of June 30, 20Y6. 4. Determine the excess of revenues over expenses for June. 5. Can you think of any reason why the amount determined in (4) might not be the net income for June

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