Included in the accounting records of the home office and the only branch, respectively, of Hamad Company were the following ledger accounts for June 2020: Investment in Ali Branch Debit Date Explanation Credit Balance 2020 May 31 Balance 51,000 de June 6 Shipment of merchandise 30,500 81,500 de 20 Receipt of cash 11,500 70,000 de 26 Collection of branch trade account receivable 9,000 61,000 de 24,000 30 Shipment of merchandise 24,000 2 85,000 dr Home Office Date |xplanation Debit Credit Balance 2020 May 31 Balance 51,000 cr June 8 Receipt of merchandise 30,500 81,500 cr 18 Payment of cash 11,500 70,000 ct 27 Acquisition of office equipment 14,500 3 55,500 Gt 30 Payment of cash 22,000 4 33,500 ct Instructions: Prepare journal entries on June 30, 2020, for the (1) home office, and (2) Ali Branch of Hamad Company. The branch uses the perpetual inventory system.