Neveranerror, Inc. Was organized on June 1, 2012 by a group of accountants to provide accounting and tax services to small businesses. The following transactions occurred during June, its first month of operations: On June 1, neveranerror received contributions totaling $50,000 from the owners of the business in exchange for shares of stock. : On June 5, neveranerror purchased a computer system for $12,000. The agreement with the vendor requires a down payment of $2,300 with the balance due in 60 days. On June 15, neveranerror sent bills to clients totaling 512,350 for services rendered during the first two weeks of June. On June 17, neveranerror paid a $900 bill from the local newspaper for advertising for the month of June. On June 21, neveranerror received 80% of the amount billed to clients on June 15. On June 28, neveranerror received and paid gas,electric, and water bills totaling $2,700. On Juno 29, neveranerror received the landlord's bill for $2,200 for rent on the office apace that Neverarerror leases. The bill is due by the 10th of the following month. On June JO, neveranerror paid salaries and wages for Juno amounting to $5,940