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on june 1 maui travel agency inc was established the following transactions were com 691445

On June 1, Maui Travel Agency, Inc., was established. The following transactions were completed during the month.

1. Stockholders invested $40,000 cash, receiving common stock in exchange 

2. Paid $1,000 cash for June office rent.

3. Purchased office equipment for $5,000 cash.

4. Paid $1,000 cash for office supplies.

5. Incurred $500 of advertising costs in the Daily Maui, on account.

6. Earned $25,000 for services rendered: Cash of $12,000 is received from customers, and the balance of $13,000 is billed to customers on account.

7. Paid $750 cash dividend.

8. Paid Daily Maui amount due in transaction (4).

9. Paid employees’ salaries $2,500.

10. Cash of $10,000 is received from customers who have previously been billed in transaction (6).

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