On june 1 of the current year bret eisen established a

Question

On June 1 of the current year, Bret Eisen established a business to manage rental property. He completed the following transactions during June:

1. Opened a business bank account with a deposit of $30,000 in exchange for capital stock.
2. Purchased office supplies on account, $1,200.
3. Received cash from fees earned for managing rental property, $7,200.
4. Paid rent on office and equipment for the month, $3,000.
5. Paid creditors on account, $750.
6. Billed customers for fees earned for managing rental property, $5,000.
7. Paid automobile expenses (including rental charges) for month, $600, and miscellaneous expenses, $300.
8. Paid office salaries, $1,800.
9. Determined that the cost of supplies on hand was $700; therefore, the cost of supplies used was $500.
10. Paid dividends $1,500