a. Set up accounts for the general ledger with June 1 balances and enter the beginning balances. Also provide the following accounts: Piano; Dividends; Instructional Fees Earned; Performance Revenue; Rent Expense; Utilities Expense; Advertising Expense; and Interest Expense. Record the listed transactions in the accounts.

Transaction Analysis, Trial Balance, and Financial Statements Kate Smith operates the Smith Dance Studio. On June 1, the business's general ledger contained the following information: Cash $10,930 Accounts Payable $480 Notes Payable Accounts Receivable 18,200 3,000 Common Stock 11,870 Retained Earnings 13,780 $29,130 Total Total $29,130 The following transactions occurred during the month of June: $3,000 Paid June rent for practice studio. 1 Paid June piano rental (Rent Expense) Collected from students on account 2 800 14,320 3 Borrowed and signed a promissory note payable due in 6 months for Billed students for June instructional fees. Paid interest for June on outstanding notes payable. 4 6,500 5 9,600 6 110 Paid for advertising ballet performances. 7 550 Paid costume rental (Rent Expense). 8 800 Collected admission fees from ballet performances given during the month. 6,300 10 Paid amount owed on account. 780 11 Received invoice for June utilities, to be paid in July. 480 12 Paid stockholders a cash dividend. 900 13 Used cash to purchase piano, to be used in business starting in July. 6,000