1.	Journalize the transactions that occurred in JuneJune using the "net" method.
2.	Using four-column accounts, post the transactions to the ledger; omit posting references. Calculate the new account balances.
3.	Prepare the unadjusted trial balance for Fitness Equipment DoctorFitness Equipment Doctor, Inc., at JuneJune 3030.
4.	Journalize and post the adjusting entries for JuneJune based on the following adjustment information.
	a. Record the expired rent. (The Prepaid rent balance shown on the MayMay 3131, 20182018 post-closing trial balance represents three months' worth of prepaid rent.)
	b. Supplies on hand, $ 285$285.
	c. Depreciation: equipment, $ 215$215; furniture, $ 65$65; vehicles, $ 460$460.
	d. A physical count of inventory revealed $ 16 comma 295$16,295 of inventory on hand.
	e. Unearned service revenue still unearned as of JuneJune 3030 was $ 275$275.
	f. Accrued the receptionist salary of $ 675$675.
	g. Record the estimated refund liability for JuneJune. The refund liability for the month was estimated to be 55 percent of the gross sales for the month. The cost of goods estimated to be returned was $ 560$560.
5.	Prepare an adjusted trial balance for Fitness Equipment DoctorFitness Equipment Doctor, Inc., at JuneJune 3030.
6.	Prepare the multistep income statement and statement of retained earnings for the month ended JuneJune 3030. Also, prepare a classified balance sheet at JuneJune 3030. Assume rent expense, salaries expense, depreciation expense, supplies expense, and utilities expense are general expenses.
7.	Prepare and post closing entries.

Jun

19: Purchased $13,400 of inventory on account from Fitness Machines Fitness Machines.

Terms, 22/10, n/30, FOB destination.

Journal Entry
Date		Accounts	Debit	Credit
Jun	19	Inventory
		Accounts payable