Sarah Crusher is a licensed CPA. During the first month of operations of her business (a sole proprietorship), the following events and transactions occurred. April Invested $37,300 cash and equipment valued at $14,850 in the business. 2 2 Hired an administrative assistant at a salary of $239 per week payable monthly. 3 Purchased supplies on account $585. (Debit an asset account.) 7 Paid office rent of $545 for the month. 11 Completed a tax assignment and billed client $1,084 for services rendered. (Use Service Revenue account.) 12 Received $3,024 advance on a management consulting engagement. 17 Received cash of $2,695 for services completed for Ferengi Co. 21 Paid insurance expense $98. 30 Paid administrative assistant $956 for the month. 30 30 A count of supplies indicated that $121 of supplies had been used. Purchased a new computer for $7.115 with personal funds. (The computer will be used exclusively for business purposes.)