Selected transactions for Polland Real Estate Agency during its first month of business follow:
June 1 Samantha Polland opened Polland Real Estate Agency with an investment of $13,430 cash and $3,490 of equipment.
2 Paid $1,420 for a one-year insurance policy.
3 Purchased additional equipment for $4,580, paying $930 cash and signing a note payable for the balance.
10 Received $220 cash as a fee for renting an apartment.
16 Sold a house and lot to B. Rollins. The commission due from Rollins is $8,000. (It is not paid by Rollins at this time.)
27 Paid $650 for advertising during June.
29 Received an $80 bill for telephone service during the month of June. (The bill is paid in July.)
30 Paid an administrative assistant $1,830 in salary for June.
30 Received $8,000 cash from B. Rollins for the June 16 transaction.
Instructions
Journalize the transactions.