I need help with a General Journal for accounting 201

I want you to complete the final exam part 2 it’s just one general journal. The 2 screenshots i uploaded are example of what a complete general journal according to my professor.

Continuing Problem–Chapter 2
The transactions completed by PS Music during June 20Y5 were described at the end of Chapter 1. The following transactions were completed during July,
the second month of the business’s operations:
July 1
July 1
July 1
July 2
July 3
July 3
July 4
July 5
July 8
July 11
July 13
July 14
July 16
July 18
July 21
July 22
July 23
July 27
July 28
July 29
July 30
July 31
July 31
July 31
Peyton Smith made an additional investment in PS Music in exchange for common stock by depositing $5,000 in PS Music’s checking account.
Instead of continuing to share office space with a local real estate agency, Peyton decided to rent office space near a local music store.
Paid rent for July, $1,750.
Paid a premium of $2,700 for a comprehensive insurance policy covering liability, theft, and fire. The policy covers a one-year period.
Received $1,000 on account.
On behalf of PS Music, Peyton signed a contract with a local radio station, KXMD, to provide guest spots for the next three months.
The contract requires PS Music to provide a guest disc jockey for 80 hours per month for a monthly fee of $3,600. Any additional hours
beyond 80 will be billed to KXMD at $40 per hour. In accordance with the contract, Peyton received $7,200 from KXMD as an advance payment
for the first two months.
Paid $250 on account.
Paid an attorney $900 for reviewing the July 3 contract with KXMD. (Record as Miscellaneous Expense.)
Purchased office equipment on account from Office Mart, $7,500.
Paid for a newspaper advertisement, $200.
Received $1,000 for serving as a disc jockey for a party.
Paid $700 to a local audio electronics store for rental of digital recording equipment.
Paid wages of $1,200 to receptionist and part-time assistant.
Received $2,000 for serving as a disc jockey for a wedding reception.
Purchased supplies on account, $850.
Paid $620 to Upload Music for use of its current music demos in making various music sets.
Paid $800 to a local radio station to advertise the services of PS Music twice daily for the remainder of July.
Served as disc jockey for a party for $2,500. Received $750, with the remainder due August 4, 20Y5.
Paid electric bill, $915.
Paid wages of $1,200 to receptionist and part-time assistant.
Paid miscellaneous expenses, $540.
Served as a disc jockey for a charity ball for $1,500. Received $500, with the remainder due on August 9, 20Y5.
Received $3,000 for serving as a disc jockey for a party.
Paid $1,400 royalties (music expense) to National Music Clearing for use of various artists’ music during July.
Paid dividends, $1,250.
Required
1 Analyze and journalize each transaction in a two-column journal beginning on Page 2.
2 Post the journal to the ledger, extending the account balance to the appropriate balance column after each posting.
3 Prepare an unadjusted trial balance as of July 31, 20Y5.
Check Figure: Total of Debit column: $40,750
GENERAL JOURNAL
DATE
DESCRIPTION
Page:
POST.
REF.
DEBIT
2
CREDIT
1 20Y5
2 july
1 cash
3
11
Common Stock
4
5,000.00
31
5,000.00
July 1
Peyton Smith made an additional investment in PS Music in exchange for common stock by depositing $5,000 in PS Music’s checking account.
July 1
Instead of continuing to share office space with a local real estate agency, Peyton decided to rent office space near a local music store.
P. Smith deposited cash in exchange for stock
Paid rent for July, $1,750.
5
6
1 Rent expense
51
7
cash
11
8
1,750.00
1,750.00
July 1
Paid a premium of $2,700 for a comprehensive insurance policy covering liability, theft, and fire. The policy covers a one-year period.
July 2
Received $1,000 on account.
July 3
On behalf of PS Music, Peyton signed a contract with a local radio station, KXMD, to provide guest spots for the next three months.
paid rent for july
The contract requires PS Music to provide a guest disc jockey for 80 hours per month for a monthly fee of $3,600. Any additional hours
9
beyond 80 will be billed to KXMD at $40 per hour. In accordance with the contract, Peyton received $7,200 from KXMD as an advance payment
10
1 prepaid insuranse
15
11
cash
11
12
brought year liability policy
for the first two months.
2,700.00
13
14 july
2,700.00
2 Fees Earned
15
Received on account
41
1,000.00
11
1,000.00
16
17 july
3 Cash
18
Advanced Payment
7,200.00
19
7,200.00
20
21
22 july
3 Expense
23
250.00
Paid account
250.00
24
25 July
4
26
Miscellaneous Expense
900.00
paid attorney
900.00
27
28 july
5
29
Office Expense
Bought office space
7,500.00
30
31 july
Paid $250 on account.
July 4
Paid an attorney $900 for reviewing the July 3 contract with KXMD. (Record as Miscellaneous Expense.)
July 5
Purchased office equipment on account from Office Mart, $7,500.
July 8
Paid for a newspaper advertisement, $200.
July 11
Received $1,000 for serving as a disc jockey for a party.
July 13
Paid $700 to a local audio electronics store for rental of digital recording equipment.
July 14
Paid wages of $1,200 to receptionist and part-time assistant.
July 16
Received $2,000 for serving as a disc jockey for a wedding reception.
July 18
Purchased supplies on account, $850.
July 21
Paid $620 to Upload Music for use of its current music demos in making various music sets.
July 22
Paid $800 to a local radio station to advertise the services of PS Music twice daily for the remainder of July.
July 23
Served as disc jockey for a party for $2,500. Received $750, with the remainder due August 4, 20Y5.
July 27
Paid electric bill, $915.
July 28
Paid wages of $1,200 to receptionist and part-time assistant.
July 29
Paid miscellaneous expenses, $540.
July 30
Served as a disc jockey for a charity ball for $1,500. Received $500, with the remainder due on August 9, 20Y5.
July 31
Received $3,000 for serving as a disc jockey for a party.
July 31
Paid $1,400 royalties (music expense) to National Music Clearing for use of various artists’ music during July.
July 31
Paid dividends, $1,250.
7,500.00
8
32
advertisement Expense
Paid 200 for a newspaper ad
Required
200.00
33
34 july
July 3
1 Analyze and journalize each transaction in a two-column journal beginning on Page 2.
200.00
11 Fees Earned
35
36
received for disc jokey for a party
2 Post the journal to the ledger, extending the account balance to the appropriate balance column after each posting.
1,000.00
1,000.00
3 Prepare an unadjusted trial balance as of July 31, 20Y5.
37
Check Figure: Total of Debit column: $40,750
General Journal
GENERAL JOURNAL
DATE
1 july
DESCRIPTION
Page:
POST.
REF.
DEBIT
Paid for local audio equitment rental
700.00
3
4 july
700.00
14
5
Paid the receptionist
16
fees earned
Recived Serving as a Disc Jockey for a Wedding Reception
purchased supplies
850.00
Uploading music sets
620.00
620.00
22
17
Advertising expense
paid for local radio station ads
800.00
18
800.00
23
Fees earned
20
served as disc jokey
2,500.00
21
2,500.00
27 utilities expense
23
paid electric bills
915.00
24
915.00
28
26
Wages expense
Paid the receptionist and part time assistant
1,200.00
27
28 july
1,200.00
29
29
miscellaneous expense
Paid miscellaneous expense
540.00
30
31 july
On behalf of PS Music, Peyton signed a contract with a local radio station, KXMD, to provide guest spots for the next three months.
beyond 80 will be billed to KXMD at $40 per hour. In accordance with the contract, Peyton received $7,200 from KXMD as an advance payment
for the first two months.
850.00
15
25 july
Received $1,000 on account.
July 3
The contract requires PS Music to provide a guest disc jockey for 80 hours per month for a monthly fee of $3,600. Any additional hours
21 Music expense
14
22 july
Paid a premium of $2,700 for a comprehensive insurance policy covering liability, theft, and fire. The policy covers a one-year period.
July 2
18 Supplies Expense
12
19 july
July 1
2,000.00
11
16 july
Instead of continuing to share office space with a local real estate agency, Peyton decided to rent office space near a local music store.
2,000.00
9
13 july
Peyton Smith made an additional investment in PS Music in exchange for common stock by depositing $5,000 in PS Music’s checking account.
July 1
Paid rent for July, $1,750.
1,200.00
1,200.00
8
10 july
July 1
Wages expense
6
7 july
CREDIT
13 Rent expense
2
July 3
Paid $250 on account.
July 4
Paid an attorney $900 for reviewing the July 3 contract with KXMD. (Record as Miscellaneous Expense.)
July 5
Purchased office equipment on account from Office Mart, $7,500.
July 8
Paid for a newspaper advertisement, $200.
July 11
Received $1,000 for serving as a disc jockey for a party.
July 13
Paid $700 to a local audio electronics store for rental of digital recording equipment.
July 14
Paid wages of $1,200 to receptionist and part-time assistant.
July 16
Received $2,000 for serving as a disc jockey for a wedding reception.
July 18
Purchased supplies on account, $850.
July 21
Paid $620 to Upload Music for use of its current music demos in making various music sets.
July 22
Paid $800 to a local radio station to advertise the services of PS Music twice daily for the remainder of July.
July 23
Served as disc jockey for a party for $2,500. Received $750, with the remainder due August 4, 20Y5.
July 27
Paid electric bill, $915.
July 28
Paid wages of $1,200 to receptionist and part-time assistant.
July 29
Paid miscellaneous expenses, $540.
July 30
Served as a disc jockey for a charity ball for $1,500. Received $500, with the remainder due on August 9, 20Y5.
July 31
Received $3,000 for serving as a disc jockey for a party.
July 31
Paid $1,400 royalties (music expense) to National Music Clearing for use of various artists’ music during July.
July 31
Paid dividends, $1,250.
540.00
30 Fees earned
32
33
34
served as disc jokey at a charity ball
Required
1,500.00
1 Analyze and journalize each transaction in a two-column journal beginning on Page 2.
1,500.00
2 Post the journal to the ledger, extending the account balance to the appropriate balance column after each posting.
35
36
3 Prepare an unadjusted trial balance as of July 31, 20Y5.
37
Check Figure: Total of Debit column: $40,750
General Journal (2)
GENERAL JOURNAL
DATE
1 july
2
DESCRIPTION
Page:
POST.
REF.
DEBIT
CREDIT
31 fees earned
served as a disc jockey
3,000.00
3
3,000.00
4
5
31 Music expense
6
Paid royalties
1,400.00
7
1,400.00
8
9
10
31 Dividends
paid dividends
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
General Journal (3)
1,250.00
1,250.00
GENERAL LEDGER
ACCOUNT:
Cash
ACCOUNT NO:
POST
DATE
20Y5
July
ITEM
1
1
1
1
REF.
BALANCE
DEBIT
CREDIT

Balance
CJ2
CJ12
CJ2
CJ2
July
5,000.00
1,750.00
2,700.00
1,000.00
900.00
7,500.00
200.00
1,000.00
700.00
1,200.00
2,000.00
620.00
800.00
750.00
915.00
1,200.00
540.00
500.00
3,000.00
1,400.00
1,250.00
ACCOUNT:
Accounts Receivable
DEBIT
ITEM
1
23
30
ACCOUNT NO:
ACCOUNT:
REF.
DEBIT
CREDIT
DEBIT
Supplies
ACCOUNT NO:
ITEM
1
18
CREDIT
1,000.00
1,750.00
2,250.00
750.00
500.00
POST
DATE
20Y5
July
july
Balance
4ad1e6e523ffb73aaa4a75e3b7776a79
REF.
12
BALANCE

Balance
CREDIT
3,920.00
8,920.00
7,170.00
4,470.00
5,470.00
6,370.00
(1,130.00)
(200.00)
1,000.00
700.00
(1,200.00)
2,000.00
(620.00)
(800.00)
750.00
(915.00)
(1,200.00)
(540.00)
500.00
3,000.00
(1,400.00)
(1,250.00)
POST
DATE
20Y5
July
july
july
11
14
BALANCE
DEBIT

850.00
CREDIT
DEBIT
170.00
1,020.00
CREDIT
ACCOUNT:
Prepaid Insurance
ACCOUNT NO:
POST
DATE
20Y5
july
ITEM
1
ACCOUNT:
REF.
GJ12
BALANCE
DEBIT
CREDIT
2,700.00
DEBIT
ACCOUNT NO:
POST
ITEM
REF.
DEBIT
CREDIT
DEBIT
Accounts Payable
ITEM
1
ACCOUNT:
ACCOUNT NO:
REF.
BALANCE
DEBIT
CREDIT
DEBIT
ACCOUNT NO:
POST
ITEM
REF.
DEBIT
CREDIT
Common Stcok
ITEM
1
REF.
DEBIT
CREDIT
ACCOUNT NO:
31
GJ2
4ad1e6e523ffb73aaa4a75e3b7776a79
BALANCE
DEBIT
CREDIT

Balance
23
BALANCE
POST
DATE
20Y5
July
CREDIT
250.00
Unearned Revenue
ACCOUNT:
21

Balance
DATE
CREDIT
7,500.00
POST
DATE
20Y5
July
17
BALANCE
7,500.00
ACCOUNT:
CREDIT
2,700.00
Office Equipment
DATE
15
5,000.00
DEBIT
CREDIT
4,000.00
9,000.00
ACCOUNT:
Dividends
ACCOUNT NO:
POST
DATE
20Y5
July
july
ITEM
1
31
ACCOUNT:
REF.
BALANCE
DEBIT
CREDIT

Balance
DEBIT
1,250.00
Fees Earned
ITEM
1
1
ACCOUNT:
ACCOUNT NO:
REF.
DEBIT
CREDIT
DEBIT
GJ
6,200.00
7,200.00
1,000.00
Wages Expense
ITEM
1
CREDIT

Balance
ACCOUNT NO:
REF.
DEBIT
CREDIT
DEBIT
CREDIT
400.00
1,200.00
ACCOUNT:
Office Rent Expense
1,200.00
ACCOUNT NO:
POST
DATE
20Y5
July
ITEM
1
REF.
GJ2
ACCOUNT:
DEBIT
CREDIT
DEBIT
1,750.00
Equipment Rent Expense
ITEM
1
13
Balance
4ad1e6e523ffb73aaa4a75e3b7776a79
CREDIT
800.00
2,550.00
ACCOUNT NO:
POST
DATE
20Y5
July
july
REF.
51
BALANCE

Balance
50
BALANCE

Balance
41
BALANCE
POST
DATE
20Y5
July
CREDIT
500.00
1,250.00
POST
DATE
20Y5
July
33
52
BALANCE
DEBIT

700.00
CREDIT
DEBIT
675.00
700.00
CREDIT
ACCOUNT:
Utilities Expense
ACCOUNT NO:
POST
DATE
20Y5
July
july
ITEM
1
27
ACCOUNT:
REF.
BALANCE
DEBIT
CREDIT

Balance
DEBIT
915.00
Music Expense
ITEM
1
31
ACCOUNT:
915.00
ACCOUNT NO:
REF.
DEBIT
CREDIT

Balance
DEBIT
1,590.00
Advertising Expense
1
22
ACCOUNT:
1,400.00
ACCOUNT NO:
REF.
DEBIT
CREDIT

Balance
DEBIT
ITEM
ACCOUNT:
500.00
800.00
ACCOUNT NO:
REF.
DEBIT
CREDIT

Balance
DEBIT
Miscellaneous Expense
1
29
Balance
4ad1e6e523ffb73aaa4a75e3b7776a79
CREDIT
180.00
850.00
850.00
ITEM
ACCOUNT NO:
REF.
56
BALANCE
POST
DATE
20Y5
July
july
CREDIT
800.00
Supplies Expense
1
18
55
BALANCE
POST
DATE
20Y5
July
july
CREDIT
1,400.00
ITEM
54
BALANCE
POST
DATE
20Y5
July
july
CREDIT
300.00
POST
DATE
20Y5
July
july
53
59
BALANCE
DEBIT
CREDIT

540.00
DEBIT
415.00
540.00
CREDIT
MS Music
Trial Balance
For the Month Ended July 31, 20Y5
Account
Cash
Debit
Credit
23,200
2925
Common Stock
5000
Prepaid Insurance
2,700
Accounts Recevable
2,250
Unearned Revenue
5,950
Accounts Payable
10,450
Office Equipment
7,500
Rent expense
1,750
Insurance expense
2,700
legal expense
900
equipment rental expense
700
wages expense
2,400
advertising expense
1,000
supplies
850
music expense
2,020
utilities expense
915
miscellaneous expense
540
service revenue
6,500
dividends
1,250
Total: 40,750
Trial Balance
Total: 40,750
Final Exam Part 2
ASSUMPTIONS:
1 The chart of accounts provided includes all of the accounts needed to prepare your journal entries.
2 All accounts have a normal balance in our general ledger.
3 We utilize FIFO for inventory valuation
Transactions:
June 19
Sold 140 widgets on account to Korman Co., terms n/10, FOB destination, $144,900,
We use the FIFO inventory method (see the FIFO Inventory schedule tab)
June 20
Purchased 152 widgets on account from Martin Co., terms 2/10, n/30, FOB shipping
point, $91,200, including freight of $1,000.
June 23
Received $25,000 cash on account from Turner Co. who has a balance of $48,750. The
customer is not going to be able to pay the rest so it is written off.
June 26
Sold 41 widgets with a list price of $41,500 to customers who used VISA and who redeemed
$2,000 of point-of-sale coupons.
Remember, we use the FIFO inventory method (see the FIFO Inventory schedule tab)
June 28
Korman Co. Paid their invoice from June 19.
June 29
Paid for the merchandise purchased on June 20 from Martin Co.
June 30
Paid Korman Co. a cash refund of $3,105 for returned 3 widgets from sale of June 19.
The widgets returned were part of the last layer in the original sale cost wise.
June 30
Parker Co, a customer whose account was previously written off as uncollectible, has paid
$15,000 towards his delinquent (past due and written off) balance.
Required:
1. Journalize the transactions for the last two weeks of June, the first month of the fiscal year on pages 73 and 74 of
the general journal.
CHART OF ACCOUNTS
Terrific Tutoring
General Ledger
ASSETS
110 Cash
112 Accounts Receivable
113 Allowance for Uncollectible Accounts
115 Inventory
116 Estimated Returns Inventory
117 Prepaid Insurance
118 Store Supplies
123 Store Equipment
124 Accumulated Depreciation—Store Equipment
LIABILITIES
210 Accounts Payable
211 Salaries Payable
212 Customers Refunds Payable
EQUITY
310 Common Stock
311 Retained Earnings
312 Dividends
REVENUE
410 Sales
EXPENSES
510 Cost of Goods Sold
520 Sales Salaries Expense
521 Advertising Expense
522 Depreciation Expense
523 Store Supplies Expense
529 Miscellaneous Selling Expense
530 Office Salaries Expense
531 Rent Expense
532 Insurance Expense
539 Miscellaneous Administrative Expense
545 Bad Debt Expense
Purchase
Date
May 6
May 16
May 22
May 29
Quantity
Widget Inventory
Unit Cost
Total Cost
10
510 $
5,100.00
75
525 $
39,375.00
125
575 $
71,875.00
100
590 $
59,000.00
$
175,350.00
GENERAL JOURNAL
DATE
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
General Journal 73
DESCRIPTION
Page:
POST.
REF.
DEBIT
67
CREDIT
GENERAL JOURNAL
DATE
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
General Journal 74
DESCRIPTION
Page:
POST.
REF.
DEBIT
68
CREDIT