please use modified instructions

Continuing Problem The transactions completed by PS Music during June 2014 were described at the end of PS Chapter 1. The following transactions were completed during July, the second month of the business's operations: Music July 1. Peyton Smith made an additional investment in Ps Music by depositing 55,000 4. Total of Debit in PS Music's checking account. column: $40,750 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. Paid rent for July, CONCEALLIKUD $1,750. 1. Paid a premium of $2,700 for a comprehensive insurance policy covering liabil- ity, theft, and fire. The policy covers a one-year period 2. Received $1,000 on account. 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. 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. 3. Paid $250 on account. 4. Paid an attorney $900 for reviewing the July 3 contract with KXMD. (Record as Miscellaneous Expense.) 5. Purchased office equipment on account from Office Mart, $7,500. 8. Paid for a newspaper advertisement, $200. 11. Received $1,000 for serving as a disc jockey for a party, 13. Paid $700 to a local audio electronics store for rental of digital recording equip ment 14. Paid wages of $1,200 to receptionist and part-time assistant. Enter the following transactions on Page 2 of the two-column journal. July 16. Received $2,000 for serving as a disc jockey for a wedding reception. 18. Purchased supplies on account, $850. 21. Paid $620 to Upload Music for use of its current music demos in making vari- ous music sets. 22. Paid $800 to a local radio station to advertise the services of PS Music twice daily for the remainder of July. 23. Served as disc jockey for a party for $2,500. Received $750, with the remainder due August 4, 2014 27. Paid electric bill, $915. 28. Paid wages of $1,200 to receptionist and part-time assistant 29. Paid miscellaneous expenses, $540. 30. Served as a disc jockey for a charity ball for $1,500. Received $500, with the remainder due on August 9, 2014. 31. Received $3,000 for serving as a disc jockey for a party. 31. Paid $1,400 royalties (music expense) to National Music Clearing for use of various artists' music during July 31. Withdrew $1,250 cash from PS Music for personal use. PS Music's chart of accounts and the balance of accounts as of July 1, 2014 (all normal balances), are as follows: 11 Cash 53,920 41 Fees Earned $6,200 12 Accounts Receivable 50 Wages Expense 14 Supplies 51 Office Rent Expense 15 Prepaid Insurance 52 Equipment Rent Expense 17 Office Equipment 53 Utilities Expense 21 Accounts Payable 54 Music Expense 23 Unearned Revenue 55 Advertising Expense 31 Peyton Smith, Capital 56 Supplies Expense 32 Peyton Smith, Drawing 59 Miscellaneous Expense Instructions 1. Enter the July 1, 2014, account balances in the appropriate balance column of a four- column account. Write Balance in the Item column, and place a check mark in the Posting Reference column. (Hint: Verify the equality of the debit and credit balances in the ledger before proceeding with the next instruction.) 2. Analyze and journalize each transaction in a two-column journal beginning on Page 1 omitting journal entry explanations. 3. Post the journal to the ledger, extending the account balance to the appropriate bal- ance column after each posting. 4. Prepare an unadjusted trial balance as of July 31, 2014 1.000 170 400 800 675 300 1,590 500 180 415 250 4,000 500 Complete the 'Continuing Problem' on page 98-99 in the text...using the following modified instructions. Modified Instructions: 1. Enter the July 1, 2014 account balances in the general ledger (file on Module 5 'page'). All accounts have normal balances. Verify the equality of the debit and credit balances in the ledger before proceeding with part 2 2. Analyze and journalize each transaction in the general journal (file on Module 5 'page'), 3. Post the journal to the ledger. Compute the ending balance of each T-account. 4. Prepare an unadjusted trial balance as of July 31, 2014 Scan and upload completed assignment by midnight, Monday, March 21. (Three items to upload: general journal , general ledger, unadjusted trial balance.) The general ledger entries must be hand written, then scanned/take a picture, and uploaded, You can either hand write the journal entries and unadjusted trial balance, then scan/take a picture and upload OR complete the journal entries in word and upload