Case 3 Sanlucas Inc. - Case 3: Sanlucas Inc. Sanlucas ...

Case 3: Sanlucas, Inc.
Sanlucas, Inc. provides home inspection services to its clients. The company’s trial balance dated
June 1, 2009 is shown below:
SANLUCAS, INC.
Trial Balance
June 1, 2009
Cash $5,100
Accounts receivable 2,600
Inspection supplies 800
Accounts payable $850
Notes payable 2,000
Dividends 600
Captial stock 3,000
Retained earnings 1,800
Inspection revenue 8,350
Salaries expense 4,900
Advertising expense 300
Testing expense 1,700
$16,000 $16,000
Sanlucas engaged in the following transactions in June:
June 4 Borrowed cash from Community Bank by issuing a $1,500 note payable.
June 9 Collected a $1,600 account receivable from Nina Lesher.
June 10 Purchased $150 of inspection supplies on account.
June 17 Billed home owners $1,650 for inspection services. The entire amount is due on July 17.
June 25 Paid WLIR Radio $200 for ads to be aired on June 27.