Question: JLM Services was organized on August 1 , 2 0 Y 5 . A summary of the revenue and expense transactions for August follows: Fees

JLM Services was organized on August 1,20Y5. A summary of the revenue and expense transactions for August follows:
Fees earned $2,550,000
Wages expense 1,612,500
Miscellaneous expense 41,250
Rent expense 240,000
Supplies expense 22,500

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