Question: On August 1 , 2 0 2 3 , Mark Diamond began a tour company in the Northwest Territories called Millennium Arctic Tours. The following

On August 1,2023, Mark Diamond began a tour company in the Northwest Territories called Millennium Arctic Tours. The following occurred during the first month of operations:
Aug. 1 Purchased office furniture on account; $4,600.
1 Mark Diamond invested $6,400 cash into his new business.
2 Collected $3,000 in advance for a three-week guided caribou watching tour beginning later in August.
3 Paid $5,100 for six months rent for office space effective August 1.
4 Received $2,400 for a three-day northern lights viewing tour just completed.
7 Paid $1,200 for hotel expenses regarding the August 4 tour.
15 Mark withdrew cash of $600 for personal use.
22 Met with a Japanese tour guide to discuss a $120,000 tour contract.
31 Paid wages of $1,240.

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