On December 1, Jasmin Ernst organized Ernst Consulting. On December 3, the owner contributed $84,920 in assets to launch the business. On December 31, the company's records show the following items and amounts. Cash Accounts receivable Office supplies Land office equipment Accounts payable Owner investments $ 8,450 Cash withdrawals by owner 16,950 Consulting revenue 4,080 Rent expense 46,020 Salaries expense: 18,860 Telephone expense 9,280 Miscellaneous expenses 84,920 $ 2,930 16,950 4,420 7,900 860 680