Transaction Analysis, Trial Balance, and Financial StatementsAngela Mehl operates the Mehl Dance Studio. On June 1, thebusiness's general ledger contained the following information: Cash$6,523 Accounts Receivable 8,162 Total $14,685 Accounts Payable$528 Notes Payable 3,300 Common Stock 8,657 Retained Earnings 2,200Total $14,685 The following transactions occurred during the monthof June: 1 Paid June rent for practice studio. $1,073 2 Paid Junepiano rental (Rent Expense). 99 3 Collected from students onaccount. 5,852 4 Borrowed and signed a promissory note payable duein 6 months for 1,650 5 Billed students for June instructionalfees. 6,160 6 Paid interest for June on notes payable. 33 7 Paidfor advertising ballet performances. 385 8 Paid costume rental(Rent Expense). 440 9 Collected admission fees from balletperformances given during the month. 2,310 10 Paid amount owed onaccount. 528 11 Received invoice for June utilities, to be paid inJuly. 308 12 Paid stockholders a cash dividend. 825 13 Used cash topurchase piano, to be used in business starting in July. 6,050Required a. Record these transactions in the general journal andpost them to the T-accounts. b. Prepare a trial balance as of June30. a. General Journal Date Description Post ref. Debit Credit JuneAnswer (1) $Answer $Answer Answer Answer Answer To record paymentof studio rent. Answer (2) Answer Answer Answer Answer Answer Torecord payment of piano rent. Answer (3) Answer Answer AnswerAnswer Answer To record cash collection from students. Answer (4)Answer Answer Answer Answer Answer To record note payable. Answer(5) Answer Answer Answer Answer Answer To record June billings.Answer (6) Answer Answer Answer Answer Answer To record payment ofinterest. Answer (7) Answer Answer Answer Answer Answer To recordpayment for advertising. Answer (8) Answer Answer Answer AnswerAnswer To record payment for costume rental. Answer (9) AnswerAnswer Answer Answer Answer To record receipts for admission fees.Answer (10) Answer Answer Answer Answer Answer To record paymentowed on account. Answer (11) Answer Answer Answer Answer Answer Torecord June utilities invoice. Answer (12) Answer Answer AnswerAnswer Answer To record cash dividend. Answer (13) Answer AnswerAnswer Answer Answer To record purchase of a piano. Cash Beg AnswerAnswer (1) Answer Answer (2) Answer Answer (3) Answer Answer (4)Answer Answer (6) Answer Answer (7) Answer Answer (8) Answer Answer(9) Answer Answer (10) Answer Answer (12) Answer Answer (13) AnswerAnswer Bal Answer Answer Accounts Receivable Beg Answer Answer (3)Answer Answer (5) Answer Answer Bal Answer Answer Piano (13) AnswerAnswer Bal Answer Answer Common Stock Beg Answer Answer Bal AnswerAnswer Accounts Payable Beg Answer Answer (10) Answer Answer (11)Answer Answer Bal Answer Answer Notes Payable Beg Answer Answer (4)Answer Answer Bal Answer Answer Retained Earnings Beg Answer AnswerBal Answer Answer Dividends (12) Answer Answer Bal Answer AnswerInstructional Fees Earned (5) Answer Answer Bal Answer AnswerPerformance Revenue (9) Answer Answer Bal Answer Answer RentExpense (1) Answer Answer (2) Answer Answer (8) Answer Answer BalAnswer Answer Utilities Expense (11) Answer Answer Bal AnswerAnswer Advertising Expense (7) Answer Answer Bal Answer AnswerInterest Expense (6) Answer Answer Bal Answer Answer b. MEHL DANCESTUDIO Trial Balance June 30 Debit Credit Cash Answer AnswerAccounts Receivable Answer Answer Piano Answer Answer AccountsPayable Answer Answer Notes Payable Answer Answer Common StockAnswer Answer Retained Earnings Answer Answer Dividends AnswerAnswer Instructional Fees Earned Answer Answer Performance RevenueAnswer Answer Rent Expense Answer Answer Utilities Expense AnswerAnswer Advertising Expense Answer Answer Interest Expense AnswerAnswer Totals Answer Answer