Question
Zhou Hong started a translation business on June 1, 2017. The following is a list of events and transactions that occurred concerning Zhou's new business.
Zhou Hong started a translation business on June 1, 2017. The following is a list of events and transactions that occurred concerning Zhou's new business.
June 1 Zhou invested translation software at a fair value of $3,550 into the business.
1. Zhou opened a business bank account at the CIBC and deposited personal cash in the amount of $3,350.
5. Paid June's rent for the office, $1,465.
6. Performed translation services for a client and received cash of $2,025.
8 Translated a proposal for a client and billed the client $2,335.
10Purchased office supplies $405 on account.
11 Paid the receptionist a salary of $410.
21 Collected accounts receivable billed on June 8.
24 Paid for purchase of office supplies.
26 Received a contract to translate a textbook for a total contract price of $12,950.
30 Zhou withdrew $465 cash for personal expenses.
Date Account title and Explanation Debit Credit
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(Invested Software in business)
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(Deposited Cash in the business bank acount)______ ________
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