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Sofia establishes an insurance agency on June 2021 and completed the following transactions during June: June Opened a business bank account in the name of
Sofia establishes an insurance agency on June 2021 and completed the following transactions during June: June Opened a business bank account in the name of DS Agency with deposit RM50,000 01 as capital 02 Borrowed RM15,000 by issuing a note payable; due in 2 years 04 Received cash from fees earned RM9,200 08 Paid automobile expenses RM1,000 by cheque 10 Purchase office equipment RM5,500 cash 16 Paid rental RM4,500 17 Performed service on credit RM10,760 20 Paid RM2,500 on notes signed on June 02 23 Purchased supplies for RM3,450 on credit 27 Received RM5,000 from customers on amount owed on June 17 30 Paid salaries for RM1,800 to employees 30 Paid utilities bill for RM350 Required: Indicate the effect of each transaction using the following format; Date Assets = Liabilities + Owner's Equity + Revenue E.g. 1 Equipment 1 Engli 0 0 RM15,000 RM15,000 Expenses o
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