Owner contributed $18,000 cash in exchange for capital Paid monthly office rent $550. Paid cash for a computer. $1,800 This equipment is expected to remain m service for five years Purchased office furniture on account. $4,200 The furniture should last for five years. Purchased office supplies on account. $900 Performed consulting service for a client on account $1.500. Paid utilities expenses. $250 18 Performed service for a client and received cash of $1,100. 21 Received $1.400 in advance for client service to be performed over the next 30 days. (This increases the Unearned Revenue account which is a liability This account will be explained in more detail in Chapter 2.) Hired an administrative assistant to be paid $2.055 on the 20th day of each month. The secretary begins work immediately Paid $400 on account. Collected 5300 on account Davis withdrew $1.400. Owner contributed $18,000 cash in exchange for capital Paid monthly office rent $550. Paid cash for a computer. $1,800 This equipment is expected to remain m service for five years Purchased office furniture on account. $4,200 The furniture should last for five years. Purchased office supplies on account. $900 Performed consulting service for a client on account $1.500. Paid utilities expenses. $250 18 Performed service for a client and received cash of $1,100. 21 Received $1.400 in advance for client service to be performed over the next 30 days. (This increases the Unearned Revenue account which is a liability This account will be explained in more detail in Chapter 2.) Hired an administrative assistant to be paid $2.055 on the 20th day of each month. The secretary begins work immediately Paid $400 on account. Collected 5300 on account Davis withdrew $1.400