Transaction Analysis, Trial Balance, and Financial Statements. Kate Miller operates the Miller Dance Studio. On June 1, the business's general ledger...

Transaction Analysis, Trial Balance, and Financial Statements.

Kate Miller operates the Miller Dance Studio. On June 1, the business's general ledger contained the following information:

Cash $ 10,930 Accounts Payable $480

Accounts Receivable $17, 420. Notes Payable $3,000

Common Stock $11,870

Retained Earnings $13,000

Total 28,350. Total: 28,350

The following transactions occured during the month of June:

1. Paid June rent for the studio. $2,075

2. Paid June piano rental (Rent expense) $800

3 Collected from students on account. $14,320

4. Borrowed and signed a promissory note payable due in 6 months for $6,500

5. Billed students for June instructional fees. $9,600

6. Paid interest for June on outstanding notes payable $90

7. Paid for advertising ballet performances $550

8. Paid costume rental (Rent expense) $800

9. Collected admission fees from ballet performances given during the month $6,100

10. Paid anount owed on account $780

11. Recieved invoice for June utilities to be paid in July $480

12. Paid stockholders a cash dividend $850

13. Used cash to purchase piano, to be used in business starting in July $6,000