Question

The following transactions resulted for Mel's Delivery Service during the month of July 2021:

A. Mel invested $10,000 in the business from his personal savings account.

B. Bought delivery truck on cash, $17,000.

C. Advertising bill received but unpaid, $700.

D. Bought office equipment for cash, $1,200.

E. Received cash for delivery services rendered, $15,000.

F. Paid salaries expense, $3,000.

G. Paid gas expense for company trucks, $1,250.

H. Billed customers for delivery services rendered, $4,000.

I. Paid telephone bill, $300.

J. Received $3,000 as partial payment of Transaction H.

K. Mel paid home telephone bill from company cheque book, $150