On April 1, Mary Smith established Smith's Travel Agency. The following transactions were completed during the month. 1. 2. 3. 4. 5. Invested $13,000 cash to start the agency. Paid $500 cash for April office rent. Purchased equipment for $2,000 cash. Incurred $600 of advertising costs in the Chicago Tribune, on account. Paid $500 cash for office supplies. Performed services worth $10,000: $2,500 cash is received from customers, and the balance of $7,500 is billed to customers on account Withdrew $400 cash for personal use. Paid Chicago Tribune $400 of the amount due in transaction (4), Paid employees' salaries $2,000. Received $4,500 in cash from customers who have previously been billed in transaction (6). 6. 7. 8. 9. 10