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

June 1		Samantha Polland opened Polland Real Estate Agency with an investment of $14,660 cash and $2,830 of equipment.
2		Paid $1,030 for a one-year insurance policy.
3		Purchased additional equipment for $4,670, paying $985 cash and signing a note payable for the balance.
10		Received $320 cash as a fee for renting an apartment.
16		Sold a house and lot to B. Rollins. The commission due from Rollins is $7,860. (It is not paid by Rollins at this time).
27		Paid $735 for advertising to run during June.
29		Received an $75 bill for telephone service during the month of June. (The bill is paid in July.)
30		Paid an administrative assistant $1,770 in salary for June.
30		Received $7,860 cash from B. Rollins for the June 16 transaction.

Part b) Open T accounts and post the journal entries to the general ledger. Note: Because this is the first year of business, there are no opening balances to consider.