x Company, a merchandiser, started business on June 1 . The following were June transactions: 1. Received $85,000 from a group of investors. 2. Bought $8,447 of merchandise, $3,790 for cash and $4,657 on account. 3. Sold merchandise for $22,500, of which $17,562 was for cash and $4,938 was on account; Cost of Goods Sold was 54% of sales. 4. Paid $3,954 to suppliers for merchandise previously bought on account. 5. Paid wages of $5,560. 6. Collected $2,716 from customers on account. 7. Paid $6,000 for rent in advance. 4. What were total liabilities on June 30? B: $450 D: $7703 F: $1,098 Tries 0/99