In June, the following transactions occurred for Betty€™s Art Studio of Toronto:

Required
a. The ledger is already set up for you based on the Chart of Accounts.
b. Journalize (all page 1) and post the June transactions.
c. Prepare a trial balance as of June 30, 2014.
Chart of accounts includes: Cash, 111; Accounts Receivable, 112; Prepaid Rent, 114; Art Supplies, 121; Equipment, 131; Accounts Payable, 211; Betty Rice, Capital, 311; Betty Rice, Withdrawals, 312; Art Fees Earned, 411; Electrical Expense, 511; Salaries Expense, 521; Telephone Expense, 531.

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2014 June Paid for moths' rent in aiwabnces 1.200 Betty Rice invested $6,000 in the art studio 2 2 Paid four months' rent in advance, $1,200 3 Purchased art supplies on account from A.J.K., $700 6 Purchased equipment on account from Reese Company, $900 9 Received $1,300 cash for art training program provided to Northwest Community College. Billed Long Co. for art lessons provided, $600 Betty withdrew $400 from the art studio to buy a new power saw for her home. Paid salaries expense, $400 Paid telephone bill, $118. Electricity bill was received but not yet paid, $120 10 13 16 27 30