On April 1, Sharon Lee established Lee's Travel Agency. The following transactions were completed during the month. 1. Invested $14,000 cash to start the agency. 2. Paid $500 cash for April office rent. 3. Purchased equipment for $2,000 cash. 4. Incurred $900 of advertising costs in the Chicago Tribune, on account. 5. Paid $900 cash for office supplies. 6. Performed services worth $11,000 : $3,500 cash is received from customers, and the balance of $7,500 is billed to customers on account. 7. Withdrew $400 cash for personal use. 8. Paid Chicago Tribune $700 of the amount due in transaction (4). 9. Paid employees' salaries $2,900. 10. Received $4,500 in cash from customers who have previously been billed in transaction (6). Assets 1. 2. 3. 4. 5. $ $ 6. 7. 8. 9. 10. 10. + $ $ Equipment