Prepare in proper form journal entries for the following transactions. Omit explanations.

October

2 Owner made a cash investment into the company $5,000

8 Bought supplies on account $100.

10

10 Paid salaries, $700

15 Paid for supplies purchased on October 8

21 Received company telephone bill, to be paid later, $30

Answer the following questions.

a. What was the total amount of withdrawals for the year?

b.What was the net income?

c. What was thetotal revenue?

d. What was the total expense?