Transactions

Mario's Marketing Firm, a market research firm, had the following transactions in June, its first month of operations.

J$.$ Witson invested $$28,000$ of personal funds in the firm in exchange for common stock.

The firm purchased the following from an office supply company: office equipment, $$11,050$; office supplies, $$2,850.$ Terms called for a cash payment of $$3,500,$ with the remainder due in $60$ days. $($Make a compound entry.$)$

Paid June rent, $$1,275.$

Contracted for four months' advertising in a local newspaper at $$325$ per month and paid for the advertising in advance.

Signed a six$-$month contract with an electronics firm to provide research consulting services at a rate of $$3,300$ per month. Received two months' fees in advance. Work on the contract started immediately.

Billed various customers for services rendered, $$8,000.$

Paid two weeks' salaries $($five$-$day week$)$ to employees, $$3,600.$

Paid J$.$ Witson's travel expenses to business conference, $$1,450.$

Paid $$520$ cash for postage to mail questionnaire.

Paid two weeks' salaries to employees, $$3,600.$

Billed various customers for services rendered, $$7,200.$

Collected $$7,800$ from customers on account.

J$.$ Witson received a $$3,000$ cash dividend.

Paid $$100$ cash for internet.