Windsor is a licensed CPA. During the first month of operations of her business. Windsor, Inc., the following events and transa occurred. May 1 Stockholders invested $20,000 cash in exchange for common stock. 2 Hired a secretary-receptionist at a salary of $1,500 per month. 3 Purchased $2,300 of supplies on account from Vincent Supply Company. 7 Paid office rent of $710 cash for the month. 11 Completed a tax assignment and billed client $2.700 for services performed. 12 Received $2,800 advance on a management consulting engagement. 17 Received cash of $1,300 for services performed for Orville Co. 31 Paid secretary-receptionist $1,500 salary for the month. 31 Paid 50% of balance due Vincent Supply Company.