Mailin Moon is a freelance writer who submits articles to various magazines and newspapers. She operates out of a small office where she employs one administrative assistant. The following activities occurred during March 2020, her first month of business:

1. Moon invested $2,500 worth of equipment into her business along with $3,000 cash.
2. Submitted a series of articles toThe Globe and Mailand received $6,500 cash.
3. Purchased supplies on credit; $600.
4. Paid the part-time administrative assistant's salary of $1,450.
5. Moon ordered $3,000 of office equipment from the IKEA catalogue. It is scheduled to arrive in April or May.
6. Paid the rent for the first month; $1,400.
7. Submitted an article toReport on Business; will receive $4,500 next month.