Sarah Allen started her own consulting firm, Blossom Consulting, on May 1, 2020. The following transactions occurred during the month of May. May 1 Trixie invested $8,000 cash in the business.
2 Paid $850 for office rent for the month.
3 Purchased $500 of supplies on account.
5 Paid $170 to advertise in the County News.
9 Received $4,300 cash for services performed.
12 Withdrew $1,200 cash for personal use.
15 Performed $5,000 of services on account.
17 Paid $2,400 for employee salaries.
20 Made a partial payment of $300 for the supplies purchased on account on May 3.
23 Received a cash payment of $4,300 for services performed on account on May 15.
26 Borrowed $4,800 from the bank on a note payable.
29 Purchased equipment for $4,300 on account.
30 Paid $250 for utilities.
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