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The following information relates to the business of Paisleys Guitar School for the month of June 2019: June 1 Purchased equipment for $42,000. Paid $6,000

The following information relates to the business of Paisleys Guitar School for the month of June 2019:

June

1 Purchased equipment for $42,000. Paid $6,000 deposit and agreed to pay the balance in 60 days.

3 Paid salaries of $15,800.

8 Brad Paisley withdrew $21,000 from the business for his personal use.

14 Paid $9,800 for radio commercials incurred.

19 Paid $7,400 to creditors for supplies that had previously been purchased on credit.

23 Received $3,700 from customers to reduce the balance in their accounts.

30 Earned $78,000 in tuition fees during the month. Of these, 25% of the fees were collected in cash and 75% will be paid within 2 months.

Required:

Prepare the general journal entries to record the above transactions that occurred during June 2019 (ignore GST, and narrations are NOT required).

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