Taylor Smith is a singer who has experienced international success in her career. On May 1, 2020, Taylor started her business, Glitter and Gold Studio, where she teaches singing. The following activities occurred during July, the third month of operations. July 1 Purchased supplies including sheet music on credit for $350. 2 Collected $5,000 in advance for singing lessons to be delivered in August. 3 Collected 52,500 for teaching singing lessons in July 4 Paid $3,500 to rent her music studio for the month of July. 5 Paid $750 for supplies purchased on account last month. 15 Taylor Smith withdrew cash of $600 to do some personal shopping on the weekend. 20 Paid her assistant wages of $1,800. 31 Purchased new microphone equipment on credit for $550. Required: 1. Prepare journal entries to record the July transactions View transaction list Journal entry worksheet