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Comprehensive Problem Instructions Due Tuesday, February 7, 2017. (But you can turn it in early! e) Peyton Manning enjoys listening to all types of music and owns countless CD's. Over the years, Peyton has gained a local reputation for knowledge of music from classical to rap and the ability to put together sets of recording that appeal to all ages. During the last several months, Peyton served as a guest disc jockey on a local radio station. In June, 2016, Peyton established a corporation known as PM Music, Inc (Music to put you to sleep). Using an extensive collection of music MP3 files, Peyton will serve as a disc jockey on a fee basis for weddings, college parties, and other events. The June transactions for PM Music, Inc, have been recorded in the general ledger. You are to record transactions for the month of July, the second month of operations. You may do these steps manually or on the computer. The working papers' are available in an Excel spreadsheet in WT Class ifyou prefer to do this on computer. A spreadsheet simplifies the trial balance steps and is available under the Lessons folder of WT Class, opening balances on July 1, 2016 are included in the general ledger. You should present all amounts in whole dollars, cents are NOT needed. You may use abbreviations throughout the problem EXCEPTin the actual financial statements. Chart of Accounts Cash Income summa Accounts receivable Fees Earned Advertising expense Supplies Prepaid insurance Depreciation expense Office equipment Insurance expense Accumulated depreciation Interest expense Miscellaneous ex Accounts payable Music expense Wages payable Rent expense Unearned fees Supplies expense Notes payable Utilities expense Common stock Dividends Wages expense Retained earnings

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