Jay Pembroke started a business. During the first month (Apr…
Jay Pembroke started a business. During the first month (April 20–), the following transactions occurred.Invested cash in business, $19,992.Bought office supplies for $4,461: $2,016 in cash and $2,445 on account.Paid one-year insurance premium, $1,295.Earned revenues totaling $3,242: $1,395 in cash and $1,847 on account.Paid cash on account to the company that supplied the office supplies in transaction (b), $2,146.Paid office rent for the month, $643.Withdrew cash for personal use, $141.
