From the following transactions as well as additional data, please complete the entire accounting cycle for Mikes

Question:

From the following transactions as well as additional data, please complete the entire accounting cycle for Mike’s Plumbing of Prince Albert.
2022
May
1 To open the business, Mike Quinlan invested $10,000 cash and $7,400 worth of plumbing equipment.
1 Paid rent for four months in advance, $1,980.
3 Purchased office equipment on account from MacKenzie Co., $3,800.
7 Bought plumbing supplies, $1,645.
8 Collected $3,600 for plumbing services provided.
9 Mike paid his home utility bill with a company cheque, $122.
10 Billed Western Construction Co. for plumbing fees earned but not to be received until later, $9,600.
14 Advertising bill was received from ABCD Radio Co. but is not to be paid until next month, $420.
21 Received cheque from Western Construction Co. in partial payment of transaction dated May 10, $4,800.
28 Paid MacKenzie Co. one-half of amount owed for office equipment, $1,900.
31 Paid telephone bill of company, $184.
31 Received bill from George’s Cleaning to be paid in June, $215.
31 Paid salaries to employees, $4,100.

Adjusting Data
a. Plumbing supplies remaining at month-end were $328.
b. One month’s rent expired in May.
c. Depreciation on office equipment uses the straight-line method, a life of five years, and a residual value of $500.
d. Depreciation of plumbing equipment also uses the straight-line method, a life of three years, and zero residual value.
e. Salaries accrued amounted to 20% of the salaries paid on May 31.