(a) Jessica contributed $50,000 cash to the company on June 1 in exchange for its common stock.(b) Purchased inflatable rides and inflation equipment on June 2, paying $20,000 cash.(c) Received $5,000 cash from casual hourly rentals at the mall on June 3.(d) Rented rides and equipment to customers for $10,000.(e) Received cash of $2,000 on June 4 and the rest is due from customers.(f) Received $2,500 from a large corporate customer on June 5 as a deposit on a party booking for July 4.(g) Began to prepare for the July 4 party by purchasing and receiving various party supplies on June 6 on account for $600.(h) On June 7, paid $6,000 in cash for renting the mall space this month.(i) On June 8, prepaid next month’s mall space rental charge of $6,000.(j) Received $1,000 on June 9 from customers on accounts receivable.(k) Paid $1,000 for running a television ad on June 10.(l) Paid $4,000 in wages to employees on June 30 for work done during the month. Record the above transaction.

Date                         Particulars                         Debit                Credit

June 1                         Cash                               $ 50,000

                                       Common Stock                                 $ 50,000

(a) Jessica contributed $50,000 cash to the company on June 1 in exchange for its common stock.

June 2                       Inflatable Equipment          $ 20,000

                                           Cash                                             $ 20,000

(b) Purchased inflatable rides and inflation equipment on June 2, paying $20,000 cash.

June 3                             Cash                                 $ 5000

                                         Rental Revenue                                 $ 5000

(c) Received $5,000 cash from casual hourly rentals at the mall on June 3.

                            Accounts Receivable         $ 10000

                                                   Rental  Revenue                   $ 10000

(d) Rented rides and equipment to customers for $10,000.

June 4                              Cash                               $2000

                                             Accounts Receivable                  $2000

(e) Received cash of $2,000 on June 4 and the rest is due from customers.

June 5                                 Cash                          $ 2,500

                                    Unearned Revenue                             $2500

(f) Received $2,500 from a large corporate customer on June 5 as a deposit on a party booking for July 4.

June 6                          Party Supplies                $600

                                       Accounts Payable                         $600

(g) Began to prepare for the July 4 party by purchasing and receiving various party supplies on June 6 on account for $600.

June 7                           Rent Expense                $6000

                                           Cash                                           $6000

(h) On June 7, paid $6,000 in cash for renting the mall space this month.

June 8                            Prepaid Rent Expense     $6000

                                              Cash                                          $6000

(i) On June 8, prepaid next month’s mall space rental charge of $6,000.

June 9                                 Cash                                $1000

                                      Accounts Receivable                          $1000

(j) Received $1,000 on June 9 from customers on accounts receivable.

June 10                          Advertising Expense            $1000

                                                 Cash                                         $1000

(k) Paid $1,000 for running a television ad on June 10.

June 30                       Wages Expense                     $ 4000

                                             Cash                                               $ 4000

(l) Paid $4,000 in wages to employees on June 30 for work done during the month

answer; possession utility;

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