number 5

X Company, a merchandiser, started business on June 1 . The following were June transactions: 1. Received $91,000 from a group of investors. 2. Bought $8,751 of merchandise, $3,028 for cash and $5,723 on account. 3. Sold merchandise for $21,000, of which $16,096 was for cash and $4,904 was on account; Cost of Goods Sold was 52% of sales. 4. Paid $3,743 to suppliers for merchandise previously bought on account. 5. Paid wages of $5,020. 6. Collected $2,568 from customers on account. 7. Paid $5,500 for rent in advance. 4. What was the balance in the cash account on June 30 ? Tries 0/99 5. What were total equities on June 30 ? Tries 0/99 6. What was net income in June [ignore adusting entries]