Creative Designs, a firm providing art services for advertisers, began business on June 1, 2019. The following transactions occurred during the month of June.

1. Anne Clem invested $12.000 cash to begin the business in exchange for common stock.

2. Paid S950 cash for June: rent.

June 3 Purchased $6,400 of office equipment on account. 6 Purchased $3,800 of art materials and other supplies; paid $1,800 cash with the remainder due within 30 days.

11 Billed clients $4,700 for services rendered.

17 Collected $3,250 cash from clients on their accounts.

19 Paid $3,000 cash toward the account for office equipment suppliers (see June 3).

25 Paid $900 cash for dividends.

30 Paid $350 cash for June utilities.

30 Paid $2,500 cash for June salaries.

REQUIRED:

a. Record the above transactions for June using the financial statement effects template.

b. The following accounts in its general ledger are needed to record the transactions for June: Cash; Accounts Receivable; Supplies; Office Equipment; Accounts Payable; Common Stock; Retained Earnings; Service Fees Earned; Rent Expense; Utilities Expense; and Salaries Expense. Record the above transactions for June in journal entry form.

c. Set up T-accounts for each of the ledger accounts and post the entries to them (key the numbers in T-accounts by date).