Problem 2-62A Comprehensive Problem Western Sound Studios records and masters audio tapes of popular artists in live concerts. The performers use the tapes to prepare velbums, CDs, and MP3s. The following account halancese beginning of 2019: Accounts Payable $11.900 Accounts Receivable 354,000 Cash 16.300 Common Stock 165,000 Insurance Payable 1.000 Interest Payable 11,200 Notes Payable (Long-term) 100,000 Rent Payable (fluilding) 10,000 Retained Earnings, 12/31/2013 101,200 During 2019, the following transactions occurred (the events described below are aggregations of many individual events): a. Taping services in the amount of $994,000 were billed b. The accounts receivable at the beginning of the year were collected c. In addition, cash for $983,000 of the services billed in Transactiona was collected d. The rent payable for the building was paid. In addition, 548,000 of building rental costs was paid in cash. There was no rent payable or prepaid rent a year end. e. The insurance payable on January 1 was paid. In addition, $4,000 of insurance costs was paid in cash. There was no insurance payable or prepaid insurance at your end. 1. Utilities expense of $56,000 was incurred and paid in 2019. 9. Salaries expense for the year was 5702,000. AH 5702,000 was paid in 2019, The interest payable at January 1 was paid. During the year an additional $11,000 of interest was paid. At year-end no interest was payable. Income taxes for 2019 in the amount of $19,700 were incurred and paid eBook Show Me How Required: 1. Scroll down to the T-accounts. The account title for each has been provide 2. Analyze each transaction. Journalize as appropriate. For compound transa events.) a. (Record billing of services performed) b. (Record collection of cash on account) C. (Record collection of cash on account) d. 000 000 I 1 000 000 (Record payment of rent) e. (Record payment of insurance) Check My Work 3 more Check My Work uses remaining eBook Show Me How e. (Record payment of insurance) (Record payment of utilities) g. 100 DO 10. O 100 0 (Record payment of salaries) h. (Record payment of interest) 1. (Record payment of income taxes) 3. Post your journal entries to the appropriate T-accounts. If a balance is zero, please Cash