Selected transactions for Sky Real Estate Agency in her first month of business, are as follows.

Jan. 2 Invested $20,000 cash in business.

3 Purchased car for $5,200 cash for use in business.

9 Purchased supplies on account for $500.

12 Billed customers $2,100 for services performed.

16 Paid $450 cash for advertising.

20 Received $1,300 cash from customers billed on January 12.

23 Paid supplier $300 cash for supplies purchased on January 9.

28 Withdrew $1,500 cash for personal use of owner.

Required:

a. Prepare journal entries to record the above transactions.

b. What is the cash balance on January 31, 2020?