Transaction Entries: Creative Designs, a firm providing art services for advertisers, began business on June 1. The following accounts in its general ledger re needed to record the transactions for June: Cash; Accounts Receivable; Supplies; Office Equipment: Accounts Payable: Common Stock Dividends; Service Fees Earned; Rent Expense; Utilities Expense; and Salaries Expense.

a. Using the account equation, record each of the transacations in the columnar format

b. Use journal entries to record the following transactions for June in the general journal

June

1 Lisa Ryan invested $8,000 cash to begin the business; she received common stock for her invest

2 Paid rent for June, $450

3 Purchased office equipment on account, $3,500

6 Purchased art materials and other supplies costing $2,500; paid $900 down with the remainder due within 30 days

11 Billed clients for services, $4,750

17 Collected $2,100 from clients on account

19 Paid $2,000 on account to office equipment compancy (see June 3 transaction)

25 Lisa Ryan received $750 dividend

30 Paid utility bill for June, $450

30 Paid salaries for June, $2,750