n August 1, 2023, Mark Diamond began a tour company in the Northwest Territories called Millennium Arctic Tours. The following occurred during the first month of operations:

1 Purchased office furniture on account; $4,700. 1 Mark Diamond invested $6,300 cash into his new business. 2 Collected $2,850 in advance for a three-week guided caribou watching tour beginning later in August. 3 Paid $4,950 for six months rent for office space effective August 1. 4 Received $2,300 for a three-day northern lights viewing tour just completed. 7 Paid $1,150 for hotel expenses regarding the August 4 tour.

2\&3. Post the entries to the accounts; calculate the ending balance in each account