On April 1, Julie Spengel established Spengel’s Travel Agency. The following transactions were completed during the month.

 1. Invested $15,000 cash to start the agency. 

2. Paid $600 cash for April office rent. 

3. Purchased equipment for $3,000 cash.

 4. Incurred $700 of advertising costs in the Chicago Tribune, on account.

 5. Paid $900 cash for office supplies. 

6. Performed services worth $10,000: $3,000 cash is received from customers, and the balance of $7,000 is billed to customers on account. 

7. Withdrew $600 cash for personal use. 

8. Paid Chicago Tribune $500 of the amount due in transaction (4). 

9. Paid employees’ salaries $2,500. 

10. Received $4,000 in cash from customers who have previously been billed in transaction (6).

Instruction:  Prepare a tabular analysis of the transactions using the following column headings: Cash, Accounts Receivable, Supplies, Equipment, Accounts Payable, Owner’s Capital, Owner’s Drawings, Revenues, and Expenses.