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Jon. Lindsey Martin opened a business called Martin Engineering and recorded the following transactions in its first month of operations. Jun. 1 Lindney Martin, the owner, invested $122,000 cash, office equipment with a value of $10,500, and $71,000 of drafting equipment to launch the company. Jan. 2 The company parehoned land worth $54,500 for an office by paying $24,000 cash and signing a long-term noto payable for $40,500. Jun. 2 The company purchased a portable building with $49,500 cash and moved it onto the land acquired on June 2. Jun. 2 The company paid $6,300 can for the premium on a 15-month insurance policy. 7 The company completed and delivered a set of plans for a client and collected $10,600 cash. Jun. 12 The company purchased $26,600 of additional drafting equipment by paying $15,000 cash and signing a long-term note payable for $11,600. Jun. 14 The company completed $22,800 of engineering service for client. This amount is to be received in 30 days. Jun. 15 The company purchased $1,700 of additional office equipment on credit. Jan. 17 The company completed engineering services for $24,200 on credit. Jun. 18 The company received a bill for rent of equipment that was used on a recently completed job. The $1,850 rent cost must be paid within 30 days. Jun. 20 The company collected $11,400 cash in partial payment from the client billed on June 14. Jun. 21 The company paid $1,400 cash for wagen to a drafting intant. Jun. 23 The company paid $1,700 cash to settle the account payable created on June 15. Jun. 24 The company paid $1,200 cash for minor maintenance of its drafting equipment. Jun. 26 Lindsey Martin withdrew $9,700 cash from the company for personal use. Jun. 28 The company paid $1,400 cash for wages to a drafting assistant Jun 30 The company paid $2,940 cash for advertisements on the web during June Descriptions of items that require adjusting entries on June 30, 2019, follow. a) The company has completed, but not yet billed, $10,400 of engineering services for a client b) Straight-line depreciation on the office equipment, assuming a 5-year life and a $3,200 salvage value, is $150 per month c) Straight-line depreciation on the drafting equipment, assuming a 5-year life and a $10,600 salvage value, is $1.450 per month, d) Straight-line depreciation on the building, assuming a 25-year life and a $16,500 salvage value is $110 per month e) The balance in prepaid insurance represents a 15-month policy that went into effect on June 1. 1) Accrued interest on the long-term note payable is $120. 9) The drafting assistant is paid $1,400 for a 5-day work week. 2 days' wages have been incurred but are unpaid as of month-end. Requirement General Journal General Ledger Trial Balance Income Statement St Owners Equity Balance Sheet Impact on Income

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