Accounts Receivable $4,600 Office Supplies Event Equipment $1,560 Beyond Music provides DJ services for events such as high school dances, weddings, and corporate events. Michael Cantu started the business on June 1.2020. The June activities resulted in totals at June 30, 2020, as follows below: Cash $12,000 Sound System Equipment Michael Cantu, Accounts Payble Capital $9,600 $6,200 $24,000 $45,560 The following transactions took place in July: July 1 Cantu invested $20,000 cash in the business. July 2 July 4 Rented office space and paid the month's rent of $1,000 cash July 6 July 8 July 10 July 15 July 17 July July 23 25 July 28 July 29 July 30 July 31 Required Purchased sound system equipment for $8,000 by paying $3,000 in cash and agreeing to pay the balance in 30 days. Purchased office supplies by paying $1,000 cash. Provided DJ services for three weddings and immediately collected $4,400 in total for completing the services Purchased $7,600 of projectors and screens on credit. (Event equipment) Completed DJ services for a customer on credit in the amount of $4,800. Purchased $3,840 of office supplies on credit. Paid for the event equipment purchased on July 10, Billed a large corporate customer $6,000 for DJ services and $4,000 for the rental of event equipment; the balance is due in 30 days. Received $4,800 for the work completed on July 15. Paid DJ wages of $4,500. Paid the monthly utility bills of $1,700. Cantu withdrew $2,400 cash from the business to pay personal expenses.. 1. Follow the example on the "Sample Transaction Analysis" tab. 2. On the "Transaction Analysis" tab, show the effects of each July transaction on the items in the equation. 3. Determine the final total for each item and verify that the equation is in balance. 4. Ensure that the beginning balances (June ending balances) are included. 5. On the the "Income Statement" tab, prepare the Income Statement 6. On the the "Statement of Equity" tab, prepare the Statement of Changes in Equity. 7. On the the "Balance Sheet" tab, prepare the Balance Sheet. 8. Each Group Leader will submit the completed quiz on behalf of the group. Please only the group leader should submit!!!