Problem 1 4A
Debra Menge started her own consulting firm, Menge Consulting, on May 1, 2014. The following transactions occurred during the month of May.
| May 1 | Debra invested $7,000 cash in the business. | |
| 2 | Paid $900 for office rent for the month. | |
| 3 | Purchased $600 of supplies on account. | |
| 5 | Paid $125 to advertise in the County News. | |
| 9 | Received $4,000 cash for services performed. | |
| 12 | Withdrew $1,000 cash for personal use. | |
| 15 | Performed $5,400 of services on account. | |
| 17 | Paid $2,500 for employee salaries. | |
| 20 | Paid for the supplies purchased on account on May 3. | |
| 23 | Received a cash payment of $4,000 for services performed on account on May 15. | |
| 26 | Borrowed $5,000 from the bank on a note payable. | |
| 29 | Purchased equipment for $4,200 on account. | |
| 30 | Paid $275 for utilities. |