Question

Date	Transaction description
1	Jessica Downing invested $105,000 cash into the business.
1	Purchased Music Equipment for $55,000 cash.
1	Paid $10,320 for the next three month's rent of a studio.
1	Obtained a long-term loan of $186,000 from the Earth Bank.
3	Received $3,600 in cash from Council Records for music lessons provided on that day.
5	Paid $210 for a non-refundable account set-up fee to the telephone provider.
6	Purchased approximately two months worth of office supplies on credit for $3,600 from UML Centre.
9	Provided $7,800 of music lessons on credit for The Wikie Wah Hut.
11	Received $6,900 cash from Brashs World Records for future music lessons.
17	The Wikie Wah Hut paid $4,500 in partial payment of their account.
18	Paid staff wages of $5,100 for the period up to and including yesterday.
20	Jessica Downing withdrew $1,000 cash from the business.
23	Made a partial payment of $2,160 for office supplies purchased on 6 June.
26	Received a cash payment of $3,400 from students for music lessons provided on that day.
29	Provided $7,800 of music lessons to Mira Ball Records on credit.

Answer 1

Date	Accounts Title	Dr	Cr
1	Cash	$105,000
	Jessica's Downing capital		$105,000
1	Music equipment	$55,000
	Cash		$55,000
1	Prepaid Rent	$10,320
	Cash		$10,320
1	Cash	$186,000
	Long term loan payable		$186,000
3	Cash	$3,600
	Service Revenue		$3,600
5	utilities expenses	$210
	Cash		$210
6	Office supplies	$3,600
	Accounts Payable		$3,600
9	Accounts Receivable	$7,800
	Service Revenue		$7,800
11	Cash	$6,900
	Uneraned Service revenue		$6,900
17	Cash	$4,500
	Accounts Receivable		$4,500
18	Wages expenses	$5,100
	Cash		$5,100
20	Jessica's Downing withdrawal	$1,000
	Cash		$1,000
23	Accounts Payable	$2,160
	Cash		$2,160
26	Cash	$3,400
	Service Revenue		$3,400
29	Accounts Receivable	$7,800
	Service Revenue		$7,800