ourses/36916/assignments/3218397module item id 365242 1. The owner, Mai Li, invests $40,000 in cash in starting a real estate office operating as a sole proprietorship. 2. Purchased $500 of supplies on credit 3. Purchased equipment for $9,000, paying $4,000 in cash and signed a 30-day. $5,000, note payable. 4. Real estate commissions billed to clients amount to $4,000. 5. Paid $800 in cash for the current month's rent. 6. Paid $200 cash on account for supplies purchased in transaction 2 7. Recelved a bill for $600 for advertising for the current month 8. Paid $2,500 cash for office salaries and wages 9. Li withdrew $1,800 from the business for living expenses. 10. Received a check for $2.500 from a client in payment on account for commissions billed in transaction 4 Credit No. Account Titles and Explanation Debit 1. 2. 3