One Wiser Corp. had the following transactions during the first month of business. Journalize the transactions.

August 2 nvested $12,000 cash and $2,500 of equipment in the business in exchange for common shares. 7 Purchased supplies on account for $600. (Debit asset account.) 12 Performed services for clients, collecting $1,300 in cash and billing the clients $670 for the remainder. Paid August rent, $600. Counted supplies and determined that only $270 of the supplies purchased on August 7 were still on hand. 15 19