The following financial statements were prepared at the end of the month of May:

TOPS IN TOPIARY - INCOME STATEMENT FOR the month of May

Revenue				$	2,540
Expenses:
Rent Expense	$	500
Advertising Expense	$	500
Wages Expense	$	200		$	1,200
Net Income				$	1,340

TOPS IN TOPIARY - STATEMENT OF OWNER'S EQUITY FOR the month of MAY

Owner's Equity at May 1	$	0
plus: Investment		2,000
plus: Net Income		1,340
less: Withdrawals		0
Owner's Equity at May 31	$	3,340

TOPS IN TOPIARY - BALANCE SHEET AS OF MAY 31

ASSETS			LIABILITES AND OWNER'S EQUITY
Current Assets:							Current Liabilities:
Cash	$	1,380					Accounts Payable	$	300
Accounts Receivable	$	1,500					Advertising Payable	$	500
Prepaid Rent	$	500					Advances from Customers	$	200
Prepaid Advertising	$	500
Supplies	$	100
Equipment				$	360		Owner's Equity	$	3,340
Total Assets				$	4,340		Total Liabilities & OE	$	4,340

During June the following transactions occurred:

1) Completed a job for which the customer paid $200 in June. The invoice is for $1,000.

2) Hire a helper and paid $200 for works done.

3) Paid $500 for the rent of July.

4) Purchased supplies for $300. At the end of June notices that there are $200 of supplies left.

5) Orders new flyers for advertising. They will be ready in July but the printer asked to be paid in advance $100.

6) In June collected in cash $3,000 for 3 jobs done for a total of $4,200, the rest is owed in account by the customers.

7) In June decided to start depreciating the equipment bought for $360 that is expected to last for 3 years.

Prepare "T" Accounts in CASH Basis for the period ended on June 30^th and then answer the questions (proof of cash).

At the end of the accounting period (June 30^th), what is the total of Expenses?

Multiple Choice

Between $1,000 and $1,499

Between $2,000 and $3,000

More than $3,000

Less than $1,000

Between $1,500 and $1,999