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Mrs. Gillen invested $30,000 to start Gillen eTravel. She purchased an office for $20,000 cash and $500 of supplies on credit. The business earned $5,500 in revenues and $3,000 in services not yet paid. Expenses of $1,200 salary, $400 utilities, $400 equipment rental, and $1,100 rent were paid. The business collected $1,000 from a client and $300 was paid on supplies. Land was sold at cost for $9,000 and $2,100 was withdrawn.

Author
Shahzeb Raheel
Language
EN