Selected transactions for Polland Real Estate Agency during its first month of business follow: June 1 2 Samantha Polland opened Polland Real Estate Agency with an investment of $13,290 cash and $3,020 of equipment. Paid $1,210 for a one-year insurance policy. 3 Purchased additional equipment for $4,940, paying $750 cash and signing a note payable for the balance. 10 Received $395 cash as a fee for renting an apartment. 16 Sold a house and lot to B. Rollins. The commission due from Rollins is $7,510. (It is not paid by Rollins at this time). 27 Paid $665 for advertising to run during June. 29 Received an $50 bill for telephone service during the month of June. (The bill is paid in July.) 28 30 Paid an administrative assistant $1,840 in salary for June. 30 Received $7,510 cash from B. Rollins for the June 16 transaction.