(Using debits and credits)

William T. Fudd III acts as a rental agent for several large apartment houses. Fudd's income is determined by a commission on the number of apartments he rents. During the month of January, Fudd incurred the following transactions. Record the debits and credits, without explanations.

2004 January 2 Fudd placed $\$ 20,000$ cash into a bank account to be used in the operation of his business, Apartment Locators.

2 Fudd hired a secretary and agreed to pay her $\$ 700$ per month.

4 Fudd borrowed $\$ 10,000$ from the Security Bank, signing a note for that amount.

5 Fudd purchased, for cash, office equipment that cost $\$ 3,000$.

10 Fudd paid the rent for the month, $\$ 300$.

14 Fudd received a check from one apartment complex owner for $\$ 3,000$. This amount was his commission for renting apartments during the first 2 weeks of January.

17 Fudd paid his secretary half of the agreed-upon salary.

30 Fudd earned an additional $\$ 3,000$ of commissions. He has not received these amounts; therefore, he sent bills to the owners.

31 Fudd collected $\$ 500$ from one of the owners billed on January 30 .

31 Fudd made a payment on his loan. The total payment was $\$ 1,200$, of which $\$ 200$ was interest. The remainder was a reduction of the amount of the loan.