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David Segal started a business. During the first month (October 20-), the following transactions occurred. (a) Invested cash in the business, $15,000. (b) Bought office
David Segal started a business. During the first month (October 20-), the following transactions occurred. (a) Invested cash in the business, $15,000. (b) Bought office supplies for $3,800:$1,800 in cash and $2,000 on account. (c) Paid one-year insurance premium, $1,000. (d) Earned revenues amounting to $2,700:$1,700 in cash and $1,000 on account. (e) Paid cash on account to the company that supplied the office supplies in transaction (b), $1,800. (f) Paid office rent for the month, $650. (g) Withdrew cash for personal use, $150. Balance Sheet Balance Sheet Instructions \begin{tabular}{|l|l|l|} \hline & David Segal \\ \hline & Balance Sheet \\ \hline 1 & Assets \\ \hline 2 & Totalassets \\ \hline 3 & Cash \\ \hline 4 & Accounts receivable \\ \hline 5 & Prepaid insurance \\ \hline 6 & \\ \hline 7 & \\ \hline 8 & Accounts payable \\ \hline 9 & \\ \hline 10 & Accounts payable \\ \hline 11 & Accounts receivable \\ \hline \end{tabular}
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