The following transaction occurred in June 20188 for MYK Esp Placement Agency:

(Check Figure Trial Balance Totals: $21,625.00)

2018

June

1             MYK Esp invested $10,000 cash in the placement agency.

3             Bought Equipment on account from Rain Co., $1,555.

4             Earned placement fees of $2,500 but payment will not be received until July.

6              MYK Esp withdrew $950 for his personal use.

7              Paid wages expense, $530

9              Places a client on local TV Show, receiving $6,200 cash.

15           Bought supplies on account from Yana Co., $620

27           Paid telephone for June, $350

29           Advertising bill from Ella Co. was received but not yet paid, $750.

                                              CHART OF ACCOUNTS

ASSETS                                                                        OWNER’S EQUITY

11100 Cash                                                                 31100 MYK Esp, Capital

11200 Accounts Receivable                                       32100 MYK Esp, Withdrawals

13100 Supplies                                                           

14100 Equipment                                                        REVENUE                               

                                                                                    41100 Placement Fees Earned

LIABILITIES

21100 Accounts Payable                                            EXPENSES

                                                                                    51100 Wages Expense

                                                                                    52100 Telephone Expense

                                                                                    53100 Advertising Expense