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Statement of Owner's Equity Jay Pembroke started a business. During the first month (April 20--), the following transactions occurred. a. Invested cash in business, $18,000.
Statement of Owner's Equity Jay Pembroke started a business. During the first month (April 20--), the following transactions occurred. a. Invested cash in business, $18,000. b. Bought office supplies for $4,300:$1,900 in cash and $2,400 on account. c. Paid one-year insurance premium, $1,500. d. Earned revenues totaling $3,400:$1,500 in cash and $1,900 on account. e. Paid cash on account to the company that supplied the office supplies in transaction (b), $2,150. f. Paid office rent for the month, $900. g. Withdrew cash for personal use, $150. The income statement for Jay Pembroke for the month ended April 30, 20 - is shown
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