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 Eamed; 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 Hint Record rent expense on June 2 3 Purchased 6.400 of office equipment credit 6 Purchased 13.00 of art materials and other supplies the company pod 1.000 cash with the remainder due within 30 days 11 Billed cents 54 700 for services rendered 17 Collected $3,250 cash from clients on their accounts bilied on June 11 19 Pad 55.000 cash toward the account for office equipments June 25 Pad 300 cash for dividende 30 Paid 5350 cash for une utiles 20 Paid $2.500 cash for June wages Weddns Prepare a journal entry for each transaction. (Record each transaction in the order it appears.) GENERAL JOURNAL Description Credit Date Debit June 1 . June 2 a AN June 3 . + 0 June 6 Cash > June 11 June 17 June 19 e June 25 e 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. Supplies Office Equipment Cash Accounts Receivable Dividends Accounts Payable Common Stock Rent Expense Utilities Expense Wages Expense Service Fees Earned