In the journal provided, prepare journal entries (in good form) for the following transactions. If no entry is required, write “no entry.” Omit explanations. Nov. 1 Rae Bolger opened a dance school called Rae's Dance Studio by depositing $24,000 into a business bank account. 2 Paid three months' rent in advance, $2,400. 4 Hired a part-time assistant, to be paid $275 per week. 6 Purchased sound equipment for $4,200. Paid $600 in cash, the remainder to be paid in installments of $1,200 every two weeks.

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