July 1 Began busines ky densiting 220,000 in the company's bank account in exchange for 23,000 each ampleted the following transactions during the first two months In 2006, Anil Mathew started Mathew Adwaves Limited to provide advertising services and Problem 4.16 The Complete Accounting Cycle, Service Organizations 2000 shares of 10 each Two Periods *** 1 Paid three months' rent in advance, 23,000 1 Paid the premium on a one-year insurance policy, 1900 Bought office equipment from Kiran Company, 76,000 and gave two bills payable for 7 Bought office supplies for cash, 22,390. 8 Bought art supplies on credit from Fairdeal Company, 14,510. Billed customers for services provided, 26,800. 18 Received cash for services to be provided later, 1,800 27 Received cash from customers billed on July 9, 34,900, 29 Paid salaries for July, 2,100. 31 Paid Kiran Company, 3,000. Aug 1 Billed customers for services provided, 37.400. 3 Received cash from customers billed on July 9, 31,900 5 Provided services for cash received on July 18. 9 Paid suppliers for art supplies, 32,100. 13 Bought art supplies on credit, 34,200. 17 Received cash from customers billed on August 1. 24 Bought office supplies for cash,