Mary Baker opened a tax practice on June 1. The following accounts will be needed to record her transactions for June: Cash; Accounts Receivable; Office Supplies; Tax Librar Accounts Payable; Notes Payable; Common Stock; Dividends; Professional Fees Earned; Rent Expense; Salaries Expense; Advertising Expense; Utilities Expense; and Interest transactions occured during the month of June: 1 Baker opened a business checking account at a local bank, investing $13,500 in her practice in exchange for common stock. 2 Purchased office furniture and fixtures for $9,800, paid $2,800 cash, and gave a note payable for the balance 3 Purchased books and software for a tax library on account, $4,500, 4 Purchased office supplies for cash, $950. 5 Paid rent for June, $750. $. 6 Returned $300 of books with defective bindings. The return reduced the amount owed to the supplier 7 Billed clients for professional services rendered, $9,200. 8 Paid $1,700 on account for the library items purchased on June 3. 9 Collected $5,900 on account from clients billed on June 7. 10 Paid June salaries, $4,900. 11 Received invoice for June advertising to be paid in July, $300. 12 Paid stockholders $800 cash as a dividend. 13 Paid utilities for June, $160. 14 Paid interest for June on note payable, $310. Journal Entries Trial Balance General Journal Description Date Debit Credit . MARY BAKER. TAX ACCOUNTING, INC. Trial Balance June 30 Debit Credit 5 S Te record issuance of common stock Account Receivable 121 CA To record purchase of office furniture and fures. To record purchases for tax library Office Supplies Tax Library Oice Furniture and Fixtures Accounts Payaba Noces Payable Common Stock Dividends Professional Fees Esmed Rent Expense Serie Expense Advertising Expense Utilities Expan Interest Expense Total To record purchase of office supplies. To record payment for rent . $ S To record return of defective books. T-Accounts To record billing of professional services earned . 18 Cash Accounts Receivable Office Furniture and Fixtures Notes Payable 11 7) (2) 21 To record payment of library items purchased. (2) (9) Eal 19 To record cash collected for customers 110) . 151 18] 19 (10) ) (121 (131 To record payment of salaries To record invoice for advertising Bal (12) Accounts Payable Common Stock Interest Expense Salaries Expense To record payment of dividends. 131 (1 (10) 13 To record payment of trapente . To record payment of interest expense