On October 1, Ebony Ernst organized Ernst Consulting; on October 3, the owner contributed $84,200 in assets in exchange for its common stock to launch the business. On October 31, the companys records show the following items and amounts.

Cash	$	10,710		Cash dividends	$	2,180
Accounts receivable		14,800		Consulting revenue		14,800
Office supplies		3,450		Rent expense		3,750
Land		46,030		Salaries expense		7,160
Office equipment		18,170		Telephone expense		780
Accounts payable		8,630		Miscellaneous expenses		600
Common Stock		84,200