Selected transactions for Polland Real Estate Agency during its first month of business follow:

June 1Samantha Polland opened Polland Real Estate Agency with an investment of $13,940 cash and $3,170 of equipment.2Paid $1,330 for a one-year insurance policy.

3Purchased additional equipment for $4,710, paying $760 cash and signing a note payable for the balance.

10Received $295 cash as a fee for renting an apartment.

16Sold a house and lot to B. Rollins. The commission due from Rollins is $7,730. (It is not paid by Rollins at this time).

27Paid $790 for advertising during June.

29Received an $90 bill for telephone service during the month of June. (The bill is paid in July.)30Paid an administrative assistant $1,750 in salary for June.30Received $7,730 cash from B. Rollins for the June 16 transaction.

Only these accounts can be use for the jorurnal and T account 1. accounts payble and receable 2. cash 3. Prepaid Insurance 4. Equipment 5. Notes Payable 6. S. Polland, Capita 7.Service Revenue 8.Salaries Expense 10. Advertising Expense 11. Telephone Expense