Question: Current Attempt in Progress On April 1, Jennifer Davis established Davis's Travel Agency. The following transactions were completed during the month. 1. Invested $18,000 cash
Current Attempt in Progress On April 1, Jennifer Davis established Davis's Travel Agency. The following transactions were completed during the month. 1. Invested $18,000 cash to start the agency. 2. Paid $600 cash for April office rent. 3. Purchased equipment for $2,500 cash. 4. Incurred $600 of advertising costs in the Chicago Tribune, on account. 5. Paid $600 cash for office supplies. 6. Performed services worth $11,000: $3,400 cash is received from customers, and the balance of $7,600 is billed to customers on account. 7. Withdrew $400 cash for personal use. 8. Paid Chicago Tribune $400 of the amount due in transaction (4). 9. Paid employees' salaries $2,200. 10. Received $4,600 in cash from customers who have previously been billed in transaction (6). (a) Your answer is partially correct. Complete the tabular analysis of the transactions. (If a transaction results in a decrease in Assets, Liabilities or Owner's Equity, place a negative sign (or parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced. See Illustration 1-8 for example.) 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