Bill Williams opened a tax practice, (Bill Williams, Tax Accounting, Inc.), on June 1. The following accounts will be needed to record the business's transactions for June: Cash; Accounts Receivable; Office Supplies; Tax Library; Office Furniture and Fixtures; Accounts Payable; Notes Payable; Common Stock; Dividends; Professional Fees Earned; Rent Expense; Salaries Expense; Advertising Expense; Utilities Expense; and Interest Expense. The following transactions occurred in June:

1 Williams opened a business checking account at a local bank, investing \(\$ 22,000\) in his practice in exchange for common stock.

2 Purchased office furniture and fixtures for \(\$ 9,800\), paid \(\$ 4,800 \mathrm{cash}\), and gave a note payable for the balance.

3 Purchased books and software for a tax library on account, \(\$ 6,700\).

4 Purchased office supplies for cash, \(\$ 390\).

5 Paid rent for June, \(\$ 850\).

6 Returned \(\$ 300\) of books with defective bindings. The return reduced the amount owed to the supplier.

7 Billed clients for professional services rendered, \(\$ 18,600\).

8 Paid \(\$ 1,700\) on account for the library items purchased on June 3.

9 Collected \(\$ 17,250\) on account from clients billed on June 7.

10 Paid June salaries, \(\$ 4,900\).

11 Received an invoice for June advertising, to be paid in July, \(\$ 400\).

12 The business paid stockholders a cash dividend of \(\$ 800\).

13 Paid utilities for June, \(\$ 210\).

14 Paid interest for June on an outstanding note payable, \(\$ 160\).

Required

a. Prepare journal entries and record the above transactions in T-accounts, and key entries with the numbers of the transactions.

b. Prepare a trial balance from the general ledger as of June 30 .