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In January, Tongo, Incorporated, a branding consultant, had the following transactions.

1. Received $10,600 cash for consulting services rendered in January.
2. Issued common stock to investors for $15,500 cash.
3. Purchased $17,600 of equipment, paying 25 percent in cash and owing the rest on a note due in 2 years.
4. Received $7,750 cash for consulting services to be performed in February.
5. Bought and received $1,100 of supplies on account.
6. Received utility bill for January for $2,070, due February 15.
7. Consulted for customers in January for fees totaling $16,500, due in February.
8. Received $13,500 cash for consulting services rendered in December.
9. Paid $550 toward supplies purchased in (e).