Taylor Smith is a singer who has experienced international success in her career. On May $1,2023,$ 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 $$400.$

$2$ Collected $$5,200$ in advance for singing lessons to be delivered in August.

$3$ Collected $$2,600$ for teaching singing lessons in July.

$4$ Paid $$3,600$ to rent her music studio for the month of July.

$5$ Paid $$800$ for supplies purchased on account last month.

$15$ Taylor Smith withdrew cash of $$300$ to do some personal shopping on the weekend.

$20$ Paid her assistant wages of $$1,900.$

$31$ Purchased new microphone equipment on credit for $$600.$

Required:

$1.$ Prepare journal entries to record the July transactions.

$2$&$3.$ Post the entries to the T$-$accounts. $($Use the below format$)$ Enter the balances brought forward from June $30,2023$: Cash $(101)$ $$6,600$; Supplies $(126)$ $$1,250$; Equipment $(161)$ $$8,600$; Accounts Payable $(201)$ $$2,100$; Unearned Teaching Revenue $(233)$ $$10,400$; Taylor Smith, Capital $(301)$ $$3,600$; Taylor Smith, Withdrawals $(302)$ $$13,600$; Teaching Revenue $(401)$ $$47,800$; Wages Expense $(623)$ $$27,250$; and Rent Expense $(640)$ $$6,600.$

$4.$ Prepare a trial balance at July $31,2023.$

$5.$ Use the trial balance to prepare an income statement and statement of changes in equity for the three months ended July $31,2023,$ as well as a balance sheet at July $31,2023.$