Transaction Analysis, Trial Balance, and Financial Statements Angela Mehl operates the Mehl Dance Studio. On June 1, the business's general ledger contained the following information: Cash $6,523 Accounts Receivable 8,162 Total $14,685 Accounts Payable $528 Notes Payable 3,300 Common Stock 8,657 Retained Earnings 2,200 Total $14,685 The following transactions occurred during the month of June: 1 Paid June rent for practice studio. $1,073 2 Paid June piano rental (Rent Expense). 99 3 Collected from students on account. 5,852 4 Borrowed and signed a promissory note payable due in 6 months for 1,650 5 Billed students for June instructional fees. 6,160 6 Paid interest for June on notes payable. 33 7 Paid for advertising ballet performances. 385 8 Paid costume rental (Rent Expense). 440 9 Collected admission fees from ballet performances given during the month. 2,310 10 Paid amount owed on account. 528 11 Received invoice for June utilities, to be paid in July. 308 12 Paid stockholders a cash dividend. 825 13 Used cash to purchase piano, to be used in business starting in July. 6,050 Required a. Record these transactions in the general journal and post them to the T-accounts. b. Prepare a trial balance as of June 30. a. General Journal Date Description Post ref. Debit Credit June Answer (1) $Answer $Answer Answer Answer Answer To record payment of studio rent. Answer (2) Answer Answer Answer Answer Answer To record payment of piano rent. Answer (3) Answer Answer Answer Answer Answer To record cash collection from students. Answer (4) Answer Answer Answer Answer Answer To record note payable. Answer (5) Answer Answer Answer Answer Answer To record June billings. Answer (6) Answer Answer Answer Answer Answer To record payment of interest. Answer (7) Answer Answer Answer Answer Answer To record payment for advertising. Answer (8) Answer Answer Answer Answer Answer To record payment for costume rental. Answer (9) Answer Answer Answer Answer Answer To record receipts for admission fees. Answer (10) Answer Answer Answer Answer Answer To record payment owed on account. Answer (11) Answer Answer Answer Answer Answer To record June utilities invoice. Answer (12) Answer Answer Answer Answer Answer To record cash dividend. Answer (13) Answer Answer Answer Answer Answer To record purchase of a piano. Cash Beg Answer Answer (1) Answer Answer (2) Answer Answer (3) Answer Answer (4) Answer Answer (6) Answer Answer (7) Answer Answer (8) Answer Answer (9) Answer Answer (10) Answer Answer (12) Answer Answer (13) Answer Answer Bal Answer Answer Accounts Receivable Beg Answer Answer (3) Answer Answer (5) Answer Answer Bal Answer Answer Piano (13) Answer Answer Bal Answer Answer Common Stock Beg Answer Answer Bal Answer Answer Accounts Payable Beg Answer Answer (10) Answer Answer (11) Answer Answer Bal Answer Answer Notes Payable Beg Answer Answer (4) Answer Answer Bal Answer Answer Retained Earnings Beg Answer Answer Bal Answer Answer Dividends (12) Answer Answer Bal Answer Answer Instructional Fees Earned (5) Answer Answer Bal Answer Answer Performance Revenue (9) Answer Answer Bal Answer Answer Rent Expense (1) Answer Answer (2) Answer Answer (8) Answer Answer Bal Answer Answer Utilities Expense (11) Answer Answer Bal Answer Answer Advertising Expense (7) Answer Answer Bal Answer Answer Interest Expense (6) Answer Answer Bal Answer Answer b. MEHL DANCE STUDIO Trial Balance June 30 Debit Credit Cash Answer Answer Accounts Receivable Answer Answer Piano Answer Answer Accounts Payable Answer Answer Notes Payable Answer Answer Common Stock Answer Answer Retained Earnings Answer Answer Dividends Answer Answer Instructional Fees Earned Answer Answer Performance Revenue Answer Answer Rent Expense Answer Answer Utilities Expense Answer Answer Advertising Expense Answer Answer Interest Expense Answer Answer Totals Answer Answer