Debbie Gomez recently started her own cabinet repair business. Transactions for the first month of operations (May 2018) are as follows.

1) Debbie invested $14,400 cash in the business.

2) Paid two months of rent for $1,200 in advance.

3) Purchased store equipment worth $2,700 with cash.

4) Incurred business registration expenses, paid with $970 cash.

5) Paid travel expenses with $850 cash.

6) Received $2,410 cash from customers for cabinet repair services performed during the month.

7) Provided cabinet repair services worth $1,670 on account.

8) Paid $1,370 to an assistant.

9) Borrowed $1,160 cash from the bank.

10) Received $880 in bills for utilities to be paid next month.

11) Debbie withdrew $940 cash for personal purposes.

12) Received $510 owing from a customer for service provided earlier this month.

Required

Record the above transactions on the T-Account worksheet.

Do not enter dollar signs or commas in the input boxes.

Use the negative sign for negative values.

Gomez Cabinet Repair
Income Statement
For the Month Ended May 31, 2018
REVENUE
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