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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.
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. June 1 1 5 Zhou invested furniture at a fair value of $ 3,850 into the business. Zhou opened a business bank account at the CIBC and deposited personal cash in the amount of $ 2,590. Paid June's rent for the office, $ 1,410. Performed translation services for a client and received cash of $ 2,475. Translated a proposal for a client and billed the client $1,900. 6 8 10 Purchased office supplies $ 435 on account. Paid the receptionist a salary of $ 440. 11 21 Collected accounts receivable billed on June 8. Paid for the purchase of office supplies. 24 26 Received a contract to translate a textbook for a total contract price of $ 11,750. 30 Zhou withdrew $ 375 cash for personal expenses. Date Account Titles and Explanation Debit Credit (Invested furniture into the business) (Invested cash into the business) > >
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