Now that you have reviewed information about the Royal Institute of Music, you are ready to begin the first st in the accounting cycle, recording transactions. On this page of the practice set, you are asked to record all of transactions that occurred during the month of June into the general journal of the business. The transactions the month of June are as follows: Date Transaction description 1 Neville Kendall invested $99,000 cash into the business. 1 Purchased Music Equipment for $48,000 cash. 1 Paid $9,960 for the next three month's rent of a studio. 1 Obtained a long-term loan of $198,000 from the MRMC Bank. 3 Paid $180 for a non-refundable account set-up fee to the telephone provider. 5 Purchased approximately two months worth of office supplies on credit for $2,700 from Promiscuous Bargain. 5 Received $4,300 in cash from Brashs World Records for music lessons provided on that day. 9 Provided $6,400 of music lessons on credit for Council Records. 9 Received $6,000 cash from Carrie O'Key for future music lessons. 17 Paid staff wages of $6,400 for the period up to and including yesterday. 19 Council Records paid $2,500 in partial payment of their account. 20 Neville Kendall withdrew $1,000 cash from the business. Made a partial payment of $1,620 for office supplies purchased on June 5. 26 Received a cash payment of $5,900 from students for music lessons provided on that day. 29 Provided $9,300 of music lessons to Dan Soul on credit. 26 Instructions for recording transactions Following the accounting policies and procedures of the business, record all June transactions in the general journal. Please note that when you select accounts, you will select the account using a popup link. You cannot type directly into the field. General journal entries do NOT require a description of the journal entries. Remember to enter all answers to the nearest whole dollar. GENERAL JOURNAL Post Ref. Debit Credit Date Account and Explanation (select Jun 7 Office Supplies (select) 48000 1 Cash (select) Jun 1 Prepaid Rent 9960 1 Bank Loan Payable (select) 198000 Jun (select 180 5 Telephone Expense 5 Office Supplies (select) 2700 Jun 9 Wages Payable (select) 9 (select) Jun 17 (select 17 (select Jun 19 (select) 19 (the). Jun 20 (select) 20 (select Jun (select Eselect