Zhou Hong started a translation business on June 1, 2021. The following is a list of events and transactions that occurred concerning Zhou's new business. 1 un 5 6 00 8 June 1 Zhou invested furniture at a fair value of $ 4.100 into the business. Zhou opened a business bank account at the CIBC and deposited personal cash in the amount of $ 2,795. Paid June's rent for the office. $ 1.480. Performed translation services for a client and received cash of $ 2.130. Translated a proposal for a client and billed the client $ 2,300. Purchased office supplies $ 460 on account Paid the receptionist a salary of $ 465. Collected accounts receivable billed on June 8, Paid for the purchase of office supplies. Received a contract to translate a textbook for a total contract price of $ 10,180. Zhou withdrew $ 355 cash for personal expenses. 10 11 a 21 24 26 30 The following items were taken from the financial statements of J. Crane Company on December 31, 2021. All amounts are in thousands.) $1,010 $ 5.735 Long-term debt Prepaid insurance 800 1.344 290 Equipment 11.410 Accumulated depreciation-equipment Accounts payable Notes payable due after 2022) J.Crane, capital Accounts receivable Merchandise inventory 174 12.405 Long-term investments 1,306 Short-term investments 3,690 1,306 500 Notes payable (due in 2022) 2,598 Cash Zhou Hong started a translation business on June 1, 2021. The following is a list of events and transactions that occurred concerning Zhou's new business. 1 un 5 6 00 8 June 1 Zhou invested furniture at a fair value of $ 4.100 into the business. Zhou opened a business bank account at the CIBC and deposited personal cash in the amount of $ 2,795. Paid June's rent for the office. $ 1.480. Performed translation services for a client and received cash of $ 2.130. Translated a proposal for a client and billed the client $ 2,300. Purchased office supplies $ 460 on account Paid the receptionist a salary of $ 465. Collected accounts receivable billed on June 8, Paid for the purchase of office supplies. Received a contract to translate a textbook for a total contract price of $ 10,180. Zhou withdrew $ 355 cash for personal expenses. 10 11 a 21 24 26 30 The following items were taken from the financial statements of J. Crane Company on December 31, 2021. All amounts are in thousands.) $1,010 $ 5.735 Long-term debt Prepaid insurance 800 1.344 290 Equipment 11.410 Accumulated depreciation-equipment Accounts payable Notes payable due after 2022) J.Crane, capital Accounts receivable Merchandise inventory 174 12.405 Long-term investments 1,306 Short-term investments 3,690 1,306 500 Notes payable (due in 2022) 2,598 Cash
