Dawn Rehearse owns and operates an accounting firm called Dawn D. Rehearse, CPA & Associates. During January 2022, the business completed the following transactions:
a. Rehearse invested cash of $15,000 in the business.
b. Performed accounting services for a client and received cash of $500.
c. Paid off the beginning balance of accounts payable.
d. Purchased supplies from OfficeMax on account for $500.
e. Collected cash of $1,000 from a customer on account.
f. Received a cash investment of $5,000 from D. Rehearse.
g. Consulted for a new client and billed the client for services rendered, $3,500.
h. Recorded the following business expenses for the month:
- Paid office rent, $3,000.
- Paid advertising, $1,500.
i. Made a partial payment to OfficeMax of $250 in cash.