Preparing Journal Entries and Posting DeFond Services, a firm providing art services for advertisers, began business on June 1. The following accounts are needed to record the transactions for June: Cash; Accounts Receivable; Supplies; Office Equipment; Accounts Payable; Common Stock; Dividends; Service Fees Earned; Rent Expense; Utilities Expense; and Wages Expense. Prepare a journal entry for each transaction. June 1 M. DeFond invested $6,000 cash to begin the business in exchange for common stock. 2 Paid $475 cash for June rent.Hint: Record rent expense on June 2. 3 Purchased $3,200 of office equipment on credit. 6 Purchased $1,900 of art materials and other supplies; the company paid $900 cash with the remainder due within 30 days. 11 Billed clients $2,350 for services rendered. 17 Collected $1,625 cash from clients on their accounts billed on June 11. 19 Paid $1,500 cash toward the account for office equipment (see June 3). 25 Paid $450 cash for dividends. 30 Paid $175 cash for June utilities. 30 Paid $1,250 cash for June wages. pare a journal entry for each transaction. (Record each transaction in the order it appears.) GENERAL JOURNAL Date Description Debit Credit June 1 Answer Answer Answer Answer Answer Answer June 2 Answer Answer Answer Answer Answer Answer June 3 Answer Answer Answer Answer Answer Answer June 6 Answer Answer Answer Cash Answer Answer Answer Answer Answer June 11 Answer Answer Answer Answer Answer Answer June 17 Answer Answer Answer Answer Answer Answer June 19 Answer Answer Answer Answer Answer Answer June 25 Answer Answer Answer Answer Answer Answer June 30 Answer Answer Answer Answer Answer Answer June 30 Answer Answer Answer Answer Answer Answer Create a T-account for each account, and then post the journal entries to the T-accounts. Enter transactions in the T-accounts in the order they appear. Cash Answer Answer Answer Answer Answer Answer Answer Answer Answer Answer Answer Answer Supplies Answer Answer Office Equipment Answer Answer Accounts Receivable Answer Answer Accounts Payable Answer Answer June 3 Answer Answer June 6 Common Stock Answer Answer Dividends Answer Answer Rent Expense Answer Answer Utilities Expense Answer Answer Wages Expense Answer Answer Service Fees Earned