Preparing Journal Entries and Posting K. Daniels started Daniels Services, a firm providing art services for advertisers, on June 1. The following accounts are needed to record the transactions for June: Cash; Accounts Receivable; Supplies; Office Equipment; Accounts Payable; Common Stock; Dividends; Service Fees Earned; Rent Expense; Utilities Expense; and Wages Expense. Prepare a journal entry for each transaction.

June	1	K. Daniels invested $12,000 cash to begin the business in exchange for common stock.
	2	Paid $950 cash for June rent.
	3	Purchased $6,400 of office equipment on credit.
	6	Purchased $3,800 of art materials and other supplies; the company 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 billed on June 11.
	19	Paid $5,000 cash toward the account for office equipment (see June 3).
	25	Paid $900 cash for dividends.
	30	Paid $350 cash for June utilities.
	30	Paid $2,500 cash for June wages.

Prepare a journal entry for each transaction. (Record each transaction in the order it appears.)

GENERAL JOURNALDateDescriptionDebitCredit

June1
June 2
June 3
June 6
Cash
June 11
June 17
June 19
June 25
June 30
June 30

Create a T-account for each account, and then post the journal entries to the T-accounts.

Enter transactions in the T-accounts in the order they appear.

Please include a T chart for the following:

Cash

0	0
0	0
0	0
0	0
0	0
0	0

Accounts Payable

0	0
0	0

Utilities Expense

0	0

Supplies

0	0

Accounts Receivable

0	0

Common Stock

0	0

Rent Expenses

Wage Expense

0	0

Office Equipment

0	0

Dividends

0	0

Service Fees Earned

0	0