Required Enter the trial balance on a worksheet and complete the worksheet using the adjustment data given above. PROBLEMS-SET B P3-1B. Transaction Entries, Posting, Trial Balance, Adjusting Entries Huang Karate School began busi- L03, 4 ess on June 1. Transactions for June were as follows: June 1 Po Huang contributed $10,000 of his personal funds in exchange for common stock to begin the business. 2 Purchased equipment for $4,750, paying $750 cash, with the balance due in 30 days. 3 Paid six months' rent, $6,450 4 Paid one-year premium on liability insurance, $876. 5 Paid June newspaper advertising, $525. 6 Billed participants for karate lessons to date, $2,200. 7 Received $8 55 from a local company to conduct a special three-session class on self-defense for its employees. The three sessions will be held on June 29, July 6, and July 13, at $285 per session. 8 Collected $2,800 on account from participants 9 Paid $275 to repair damage to wall caused by an errant kick. 10 Billed participants for karate lessons to date, $2,000. 11 Paid assistant's wages, $950