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Continuing Problem 4. Total of Debit The 1. The followin ransactions completed by PS Music during June 2018 were described at the end of Chapter

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Continuing Problem 4. Total of Debit The 1. The followin ransactions completed by PS Music during June 2018 were described at the end of Chapter n smith made an additional Investment in PS Music in exchange for common stock by depositing $5,000 in PS Musics 540,750 g transactions were completed during July, the second month of the business's operations: July 1. account. 1. Instead of continuing to share office space with a local real estate agency, Peyton decided to rent office space near a music store. Paid rent for July, $1,750 1. Paid a prem m of $2,700 for a comprehensive insurance policy covering liability, theft, and fire. The policy covers a one-year period. one-year per 2. Received $1,000 on account 3. 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 On behalf of PS Music, Peyton signed a contract with a local radio station, KXMD, to provide guest spots hour. In accordance with the contract, Peyton received $7,200 from KXMD as an advance payment for the first two months 3. Paid $250 on account. 4. Paid an attorney $900 for reviewing the July 3 contract with KXMD. (Record as Miscellaneous Expense S. Purchased office equipment on account from Office Mart, $7,500. 8. Paid for a newspaper advertisement, $200. Received $1,000 for serving as a disc jockey for a party. Paid $700 to a local audio electronics store for rental of digital recording equipment. 11. 13. 14. Paid wages of $1,200 to receptionist and part-time assistant. Enter the foliowing 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 S620 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 uly. 23. Served as disc jockey for a party for $2,500. Received $750, with the remainder due August 4, 2018. 27. Paid electric bill, 5915 28. Paid wages of $1,200 to receptionist and part-time assistant. 29. Paid miscellaneous expenses, $540. Served as a disc jockey for a charity ball for $1,500. Received $500, with the remainder due on August 9, 2018. 30. 31. Received $3,000 for serving as a disc jockey for a party Continued)

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