An analysis of the transactions made by Ivanhoe & Co., a certified public accounting firm, for the month of August is shown below. The expenses were $600for rent, $5,600for salaries and wages, and $600for utilities.

Cash+Accounts

Receivable

+Supplies+Equipment=Accounts

Payable

+Owner's

Capital

-Owner's

Drawings

+Revenues-Expenses1.$14,000$14,0002.-1,400$4,000$2,6003.-850$8504.3,700$4,800$8,5005.-1,200-1,2006.-2,500-$2,5007.-600-$6008.550-5509.-5,600-5,60010.600-600

Assume that August is the company's first month of business.