Selected transactions for Mr. Ibrahim, civil engineer, in his first month of business, are as follows. US Invested $100.000 cash in the business Purchased two service vehicles for cash at a cost of $24,000 each Billed customers $6.800 for services performed. Purchased equipment for $50,000. Paid $10,000 cash, signed $40,000 note pavable Paid $1,200 for a one-year insurance policy Purchased $5,000 office supplies (an asset) on credit Paid $350 cash for advertising Received $5000 cash from customers billed on January 3 Paid for the office supplies on January 11 Withdrew $2,300 cash from the business 688