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Ming Chen started a business and had the following transactions in June. Owner invested $67,000 cash in the company along with $17,000 of equipment. The
Ming Chen started a business and had the following transactions in June. Owner invested $67,000 cash in the company along with $17,000 of equipment. The company paid $1,500 cash for rent of office space for the month. The company purchased $17,000 of additional equipment on credit (payment due within 30 days). The company completed work for a client and immediately collected $2,200 cash. The company completed work for a client and sent a bill for $8,900 to be received within 30 days. The company purchased additional equipment for $5,600 cash. The company paid an assistant $3,200 cash as wages for the month. The company collected $5,800 cash as a partial payment for the amount owed by the client in
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