Recording transactions Now that you have reviewed information about The Digital Village, 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 Your progress the month of June are as follows: Date Transaction description Edgar Kendall invested $104,000 cash into the business. 1 1 Purchased Computer Equipment for $60,000 cash. 1 Paid $10,200 for the next three month's rent of a studio. 1 Obtained a long-term loan of $174,000 from the BitBank 3 Purchased approximately two months worth of office supplies on credit for $3,700 from Moon Megasystems. 3 Paid $200 for a non-refundable account set-up fee to the telephone provider. 6 Received $3,300 in cash from Pikea for computer lessons provided on that day. 8 Received $5,000 cash from Turbo Tech for future computer lessons. Provided $6,300 of computer lessons on credit for Radio Hut. 17 Radio Hut paid $2,000 in partial payment of their account 18 Paid staff wages of $6,900 for the period up to and including yesterday. 20 Edgar Kendall withdrew $1,000 cash from the business. 24 Made a partial payment of $2,220 for office supplies purchased on June 3. 25 Provided $6,600 of computer lessons to Handys Electronics on credit. 25 Received a cash payment of $5,100 from students for computer lessons provided on that day. 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. Completed: This page will take up to 1.5 hours Remaining pages will take: up to 8 hours The time frames we provide are a guide only. It may Your grading Your grading outcome (still in progress) Awarded Total 0 0 Points (prior to this page) Points (on this page) (Q-302 generalJournal) Points (after this page) 194