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Sudhir Lodh started his own consulting firm, SL consulting, on 1 August 2 0 2 2 . The following transactions occurred during the month of

Sudhir Lodh started his own consulting firm, SL consulting, on 1 August 2022. The following transactions occurred during the month of August.
August 1 Sudhir invested $70,000 cash in the business.
2 Paid $9,000 for Office rent for the month.
3 Purchased $6,000 of supplies on account.
5 Paid $1,250 to advertise in the Sydney and Melbourne News
9 Received $40,000 cash for services performed
12 Withdraw $10,000 cash for personal use.
15 Performed $54,000 of services on account.
17 Paid $25,000 employee salaries
20 Paid for the supplies purchaed on account on August 3.
23 Received a cash payment of $40,000 for services performed on account on 15 August.
26 Borrowed $50,000 from bank on a note payable
29 Purchased equipment for $42,000 on account.
30 Paid $2,750 for utilities.

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