Complete the journal entry.

B C D E F A 1 Chart of Accounts 2 41 Fees Earned 3 4 11 Cash 5 12 Accounts Receivable 6 14 Supplies 7 15 Prepaid Insurance 8 17 Office Equipment 9 21 Accounts Payable 10 23 Unearned Revenue 11 31 Common Stock 12 33 Dividends 50 Wages Expense 51 Office Rent Expense 52 Equipment Rent Expense 53 Utilities Expense 54 Music Expense 55 Advertising Expense 56 Supplies Expense 59 Miscellaneous Expense 13 14 15 B C D 2 3 Date 4. July 1. Transaction Peyton Smith made an additional investment in PS Music in exchange for common stock by depositing $5,000 in PS Music's checking account. 5 July 1. Instead of continuing to share office space with a local real estate agency, Peyton decided to rent office space near a local music store. Paid rent for July, $1,750. 5 July 1. Paid a premium of $2,700 for a comprehensive insurance policy covering liability, theft, and fire. The policy covers a one-year period. 7 3 July 2. July 3. Received $1,000 on account. On behalf of PS Music, Peyton signed a contract with a local radio station, KXMD, to provide guest spots for the next three months. The contract requires PS Music to provide a guest disc jockey for 80 hours per month for a monthly fee of $3,600. Any additional hours beyond 80 will be billed to KXMD at $40 per hour. In accordance with the contract, Peyton received $7,200 from KXMD as an advance payment for the first two months. 3 July 3. Paid $250 on account. 0 July 4. Paid an attorney $900 for reviewing the July 3 contract with KXMD. (Record as Miscellaneous Expense.) 1 2 July 5. July 8. Purchased office equipment on account from Office Mart, $7,500. Paid for a newspaper advertisement, $200. 3 July 11. Received $1,000 for serving as a disc jockey for a party. 4 July 13. 5 Paid $700 to a local audio electronics store for rental of digital recording equipment. Paid wages of $1,200 to receptionist and part-time assistant. July 14. 6 July 16. Received $2,000 for serving as a disc jockey for a wedding reception. 7 July 18. Purchased supplies on account, $850. 8 July 21. Paid $620 to Upload Music for use of its current music demos in making various music sets. 9 July 22. Paid $800 to a local radio station to advertise the services of PS Music twice daily for the remainder of July. 0 July 23. Served as disc jockey for a party for $2,500. Received $750, with the remainder due August 4, 2018. -1 -2 July 27. July 28. Paid electric bill, $915. Paid wages of $1,200 to receptionist and part-time assistant. -3 July 29. Paid miscellaneous expenses, $540. -4 July 30. Served as a disc jockey for a charity ball for $1,500. Received $500, with the remainder due on August 9, 2018. -5 July 31. Received $3,000 for serving as a disc jockey for a party. 26 July 31. Paid $1,400 royalties (music expense) to National Music Clearing for use of various artists' music during July. 7 -8 July 31. Paid dividends, $1,250. Chart of Accounts Transactions Journal Entry 4 JE # Date Debit Credit Account Number Account Name DR CR 000 ou WN 7 701 July 1,2020 11 Cash 5,000.00 31 Common Stock 5,000.00 702 July 1,2020 1,750.00 10 11 51 Office Rent Expense 11 Cash 1,750.00 12 13