Cody Macedo established an insurance agency on January 1 of the current year and completed the following transactions during January:

(a) Opened a business bank account with a deposit of $75,000 in exchange for capital stock.
(b) Purchased supplies on account, $3,000.
(c) Paid creditors for account, $1,000.
(d) Received cash from fees earned on insurance commissions, $11,800.
(e) Paid rent on office and equipment for the month, $4,000.
(f) Paid automobile expenses for month, $600, and miscellaneous expenses, $200.

Question

Cody Macedo established an insurance agency on January 1 of the current year and completed the following transactions during January:									
									
(a)	Opened a business bank account with a deposit of $75,000 in exchange for capital stock.								
(b)	Purchased supplies on account, $3,000.								
(c)	Paid creditors for account, $1,000.								
(d)	Received cash from fees earned on insurance commissions, $11,800.								
(e)	Paid rent on office and equipment for the month, $4,000.								
(f)	Paid automobile expenses for month, $600, and miscellaneous expenses, $200.