Indigo Crusher is a licensed CPA. During the first month of operations of her business (a sole proprietorship), the following events and transactions occurred. April 2 Invested $31,120 cash and equipment valued at $16,310 in the business. 2 Hired an administrative assistant at a salary of $287 per week payable monthly. 3 Purchased supplies on account $577. (Debit an asset account.) 7 Paid office rent of $662 for the month. 11 Completed a tax assignment and billed client $1,176 for services rendered. (Use Service Revenue account.) 12 Received $3,140 advance on a management consulting engagement. 17 Received cash of $2,621 for services completed for Ferengi Co. 21 Paid insurance expense $129 for the next month. 30 Paid administrative assistant $1,148 for the month. 30 A count of supplies indicated that $106 of supplies had been used. 30 Purchased a new computer for $7,164 with personal funds. (The computer will be used exclusively for business purposes.)

Exercise 3-1 Indigo Crusher is a licensed CPA. During the first month of operations of her business (a sole proprietorship), the following events and transactions occurred April 2 Invested $31,120 cash and equipment valued at $16,310 in the business. 2 Hired an administrative assistant at a salary of $287 per week payable monthly 3 Purchased supplies on account $577. (Debit an asset account.) 7 Paid office rent of $662 for the month 11 Completed a tax assignment and billed client $1,176 for services rendered. (Use Service Revenue account.) 12 Received $3,140 advance on a management consulting engagement. 17 Received cash of $2,621 for services completed for Ferengi Co. 21 Paid insurance expense $129 for the next month 30 Paid administrative assistant $1,148 for the month 30 A count of supplies indicated that $106 of supplies had been used 30 Purchased a new computer for $7,164 with personal funds. (The computer will be used exclusively for business purposes.) Journalize the transactions in the general journal. (Credit account titles are automatically indented when amount is entered. Do not Indent manually. If no entry is required, select "No entry" for the account titles and enter 0 for the amounts. Record journal entries in the order presented in the problem.) Date Account Titles and Explanation Debit Credit Apr. 2 Apr. 2 Apr. 2