June 1: Parker opened an accounting firm by contributing $13,200 cash and office furniture with a fair market value of $5,300 in exchange for common stock. Prepare a compound entry Accounts Credit Jun. 1 Cash Office Furniture Common Stock Debit 13,200 5,300 18,500 June 5: Paid monthly rent of $1,300. Date Accounts Debit Credit Jun. 5 1,300 Rent Expense Cash 1,300 Debit Credit June 9: Purchased office supplies on account, $600. Date Accounts Jun. 9 Office Supplies Accounts Payable 600 600 June 14: Paid employee's salary, $1,900. Date Accounts Jun. 14 Salaries Expense Cash Credit Debit 1,900 1,900