Now that you have reviewed information about Precisely Ballroom, you are ready to begin the first step in the accounting cycle, recording transactions. On this page of the practice set, you are asked to record all of the transactions that occurred during the month of June into the general journal of the business. The transactions for the month of June are as follows: Date Transaction description 1 Edgar Richardson invested $97,000 cash into the business 1 Purchased Dance Equipment for $59,000 cash. 1 Paid $7,200 for the next two month's advertising 1 Obtained a long-term loan of $198,000 from the EastPac Bank. 3Purchased approximately two months worth of office supplies on credit for $2,500 from XTM Centre 4Received $4,000 in cash from LMP Media for dance lessons provided on that day