Jay Pembroke started a business. During the first month (April 20–), the following transactions…

  1. Invested cash in business, $18,000.
  2. Bought office supplies for $4,600: $2,000 in cash and $2,600 on account.
  3. Paid one-year insurance premium, $1,200.
  4. Earned revenues totaling $3,300: $1,300 in cash and $2,000 on account.
  5. Paid cash on account to the company that supplied the office supplies in transaction (b), $2,300.
  6. Paid office rent for the month, $750.
  7. Withdrew cash for personal use, $100

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