Continuing Problem 3. Paid $250 on account. 4. Total of Debit columns The transactions completed by Ps Music during June 20Y5 were described at the end of Chapter 1. The $40,750 following transactions were completed during July, the second month of the business's operations: July 1. Peyton Smith made an additional investment in PS Music in exchange for common stock by depositing $5,000 in PS Music's checking account. 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. 1. Pald a premium of $2,700 for a comprehensive insurance policy covering liability, theft, and fire. The policy covers a one-year period. 2. Received $1,000 on account 3. 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 accor dance with the contract Peyton received $7,200 from KXMD as an advance payment for the first two months. 4. Paid an attorney $900 for reviewing the July 3 contract with KXMD. (Record as Miscellaneous Expense.) 5. Purchased office equipment on account from Office Mart, $7,500. 8. Paid for a newspaper advertisement, $200. 11. Received $1,000 for serving as a disc jockey for a party, 13. Paid $700 to a local audio electronics store for rental of digital recording equipment 14. Pald wages of $1,200 to receptionist and part-time assistant, Enter the following transactions on Page 2 of the two-column Journal 16. Received $2,000 for serving as a disc jockey for a wedding reception 18. Purchased supplies on account, $850. 21. Paid $620 to Upload Music for use of its current music demos in making various music sets. 22. Paid $800 to a local radio station to advertise the services of PS Music twice daily for the remainder of July 23. Served as disc jockey for a party for $2,500. Received $750, with the remainder due August 4, 2045 27. Paid electric bill, $915. 28. Paid wages of $1,200 to receptionist and part-time assistant 29. Paid miscellaneous expenses. $540. 30. Served as a disc jockey for a charity ball for $1,500. Received $500, with the remainder due on August 9, 2015 31. Received $3,000 for serving as a disc jockey for a party. 31. Paid $1,400 royalties (music expense) to National Music Clearing for use of various artists' music during July 31. Paid dividends, $1,250. (Continued