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L Transaction Analysis, Trial Balance, and Financial Statements Kate Smith operates the Smith Dance Studio. On June 1, the studio's general ledger contained the following information: Cash... Accounts receivable. $10.930 18,200 Accounts payable Noles payable. Common stock Retained eamings 480 3.000 11,870 13,780 $29.130 $29.100 The following transactions occurred during the month of June: 1 Paid June rent for practice studio, $3.000. 2 Paid June piano rental. S00 (Rent Expense). 5 Collected 520 rom students on account. 4 Borrowed $6,500 and signed a promissory note payable due in six months. 5 Billed students Tor June instructional fees. $9.600. 6 Paid interest for June on the outstanding notes payable, $110. 7 Paid $550 for advertising ballet performances. 8 Paid costume rental. 5800 (Rent Expense). 9 Lollected $6.500 admission fees from ballet performances given during June. 10 Paid $780 owed on account ir Received invoice for June ullities, to be paid in July. $480. 14 The studio paid stockholders a cash dividend of St. 13 Purchased piano for $6.000 cash, to be used in busines warting in July. Required Set up accounts for the general ledger with June I hilances and cnter the beginning balances. Also provide the following accounts: Piano: Dividende Instructional Fees Eamnedl; Performance Revenue: Rent Expense: Udlitics Expense: Advertising Expense: and Interest Expense. Record the listed transactions in the accounts 15. Prepare a trial balance as of June Prepare an income statement for the month of June. . Prepare a statement of stockholders equity lor the month of lune: Prepare a balance sheet is of June 30. Prepare closing entries. Prepare 1 post-cloning trial balone