Transactions

On June 1 of the current year, Pamela Schatz established a business to manage rental property. She completed the following transactions during June:

1. Opened a business bank account with a deposit of $28,000 from personal funds.
2. Purchased office supplies on account, $3,110.
3. Received cash from fees earned for managing rental property, $8,410.
4. Paid rent on office and equipment for the month, $3,810.
5. Paid creditors on account, $1,410.
6. Billed customers for fees earned for managing rental property, $7,060.
7. Paid automobile expenses (including rental charges) for the month, $850, and miscellaneous expenses, $420.
8. Paid office salaries, $2,680.
9. Determined that the cost of supplies on hand was $1,840; therefore, the cost of supplies used was $1,270.
10. Withdrew cash for personal use, $2,540.