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On October 1, Ebony Ernst organized Ernst Consulting, on October 3, the owner contributed $83,540 in assets to launch the business. On October 31, the

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On October 1, Ebony Ernst organized Ernst Consulting, on October 3, the owner contributed $83,540 in assets to launch the business. On October 31, the company's records show the following items and amounts. Cash Accounts receivable Office supplies Land Office equipment Accounts payable Owner investments $12,650 Cash withdrawals by owner $ 1,570 13,520 3,110 6,490 850 13,520 Consulting fees earned 2,850 Rent expense 45,940Salaries expense 17,530 Telephone expense 8,110 Miscellaneous expenses 83,540

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