Cash balance, December 1, 2016 is $18,200 Transactions Dec. 1 The owner contributed an additional $7,800 cash to the business in exchange for capital. 7 Purchased equipment for $1,800 on account. 14 Paid $19,800 cash for land. 17 Paid cash expenses: office rent, $1,700; employees' salaries, $1,500, utilities, $300. 23 The owner withdrew $2,600. 26 Earned service revenue for the month, $4,800, receiving cash. SMART TOUCH LEARNING Receipts: Collections from customers Payments For rent For salaries > For utilities operating activities Investing activities Net cash provided (used) by Cash flows from Acquisition of Land Net cash provided (used) by > financing activities 7800 > > Owner contribution Owner withdrawal Net cash provided (used) by financing activities Net increase (decrease) in cash Cash balance, December 1, 2016 > Cash balance, December 31, 2016