X Company, a merchandiser, started business on June 1 . The following were June transactions: 1. Received $98,000 from a group of investors. 2. Bought $8,287 of merchandise, $3,128 for cash and $5,159 on account. 3. Sold merchandise for $22,100, of which $17,775 was for cash and $4,325 was on account; Cost of Goods Sold was 51% of sales. 4. Paid $3,633 to suppliers for merchandise previously bought on account. 5. Paid wages of $5,380. 6. Collected $2,507 from customers on account. 7. Paid $5,900 for rent in advance. 4. What was the balance in the cash account on June 30 ? Tries 0/99 5. What were total equities on June 30 ? Tries 0/99