X Company started business on June 1 and prepares monthly financial statements. The following were June transactions: 1. received $43,000 from a group of investors 2. bought $8,408 of merchandise, $3,319 for cash and $5,089 on account 3. sales were $42,300, of which $37,953 were for cash and $4,347 were on account; Cost of Goods Sold was $22,842 4. paid $3,178 to suppliers for merchandise previously bought on account 5. collected $2,548 from customers on account 6. paid expenses totalling $9,118 4. What were total assets on June 30? Submit Answer Tries 0/3 5. What was Net Income in June? Submit Answer Tries 0/3