MBC E2-6A. Transaction Analysis Creative Designs, a firm providing art services for advertisers, began busi- LO2 ness on June 1. Prepare a horizontal worksheet using the format in Exhibit 2-3 with the following column headings: Cash; Accounts Receivable; Supplies; Office Equipment; Accounts Payable; Common Stock; Revenue; Expense; and Dividends. Record the following transactions and total the columns to show that assets equal liabilities plus stockholders' equity as of June 30. June | Lisa Ryan invested $12,000 cash to begin the business; she received common stock for her investment. 2 Paid rent for June, $950. 3 Purchased office equipment on account, $6,400. 6 Purchased art materials and other supplies costing $3,800; paid $1,800 down with the remainder due within 30 days. 11 Billed clients for services, $4,700. 17 Collected $3,250 from clients on account. 19 Paid $3,000 on account to office equipment company (see June 3 transaction). 25 Lisa Ryan received a $2,000 dividend. 30 Paid utility bill for June, $350. 30 Paid salaries for June, $2,500