5/4 a. Wes Lee invests $7,000 cash in the business. b. Insurance of $800 is paid for the year. c. Supplies of $2,000 are purchased on account. d. Cash of $8,500 is received for services performed. = b Dr Cr Dr Cr June1 Oleg Thorn invests $5,000 cash in a small welding business of which he is the sole proprietor. 2 Purchases equipment on account for $3,600 3 $800 cash is paid to landlord for June rent. 12 Sends a bill to K. Johnsen for $400 after completing welding work done on account. 6/1 6/2 Dr Cr 6/3 32 6/12 Aug 1 4 16 Opens an office as a financial advisor, investing $9,000 in cash Pays insurance in advance for 6 months, $2,100 cash. Receives $3,600 from clients for services performed. a 8/1 b 27 Pays secretary $1,000 salary Dr Cr Dr Cr Dr Cr 8/16