Question: On April 1 , Donna Clark established Clark's Travel Agency. The following transactions were completed during the month. Invested $ 1 3 , 0 0

On April 1, Donna Clark established Clark's Travel Agency. The following transactions were completed during the month.
Invested $13,000 cash to start the agency.
Paid $500 cash for April office rent.
Purchased equipment for $3,800 cash.
Incurred $600 of advertising costs in the Chicago Tribune, on account.
Paid $600 cash for office supplies.
Performed services worth $10,000 : $3,500 cash is received from customers, and the balance of $6,500 is billed to
customers on account.
Withdrew $600 cash for personal use.
Paid Chicago Tribune $400 of the amount due in transaction (4).
Paid employees' salaries $2,800.
Received $3,500 in cash from customers who have previously been billed in transaction (6).Accounts
CLARKS TRAVEL AGENCY
Assets
=
Liabilities
+
Owners Equity
Cash
+
Accounts
Receivable
+
Supplies
+
Equipment
=
Accounts
Payable
+
Owners
Capital
Owners
Drawings
+
Revenues
Expenses
1.
2.
3.
4.
5.
6.
7.
8.
9.
10.

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