On October 1, 2010, Cody Doerr established Banyan Realty, which completed the following transactions during the month: a.Cody Doerr transferred cash from a personal bank account to an account to be used for the business, $17,500. b.Purchased supplies on account, $1,000. c.Earned sales commissions, receiving cash, $12,250. d.Paid rent on office and equipment for the month, $3,800. e.Paid creditor on account, $600. f.Withdrew cash for personal use, $3,000. g.Paid automobile expenses (including rental charge) for month, $1,500, and miscellaneous expenses, $400. h.Paid office salaries, $3,100. i.Determined that the cost of supplies used was $725.

Debit Credit Common Stock/Cody Capital $17,500 Supplies Inventory(1000-725) $275 Supplies expense $725 Sales Commission $12,250 Rent $3,800 Dividend $3,000 Automobile expense $1,500 Misc. expense $400 Salaries expense $3,100 Accounts Payable $400 Cash ¹ $17,350 $30,150 $30,150 ¹ Cash Account Debit Credit Common Stock $17,500 Sales Comm. $12,250 Accounts payable $600 Rent $3,800 Dividend $3,000 Automobile exp. $1,500 Misc. expense $400 Salaries exp. $3,100 Ending balance $17,350 $29,750 $29,750 1. Determine the following: a. Amount of total revenues recorded in the ledger. $ b. Amount of total expenses recorded in the ledger. $ c. Amount of net income for October. $