On June 1 of the current year, Pamela Schatz established a business to manage rental property. She completed the following transactions during June:
Opened a business bank account with a deposit of $55,000 from personal funds.
Purchased office supplies on account, $3,300.
Received cash from fees earned for managing rental property, $18,300.
Paid rent on office and equipment for the month, $8,300.
Paid creditors on account, $2,290.
Billed customers for fees earned for managing rental property, $30,800.
Paid automobile expenses (including rental charges) for the month, $1,380, and miscellaneous expenses, $1,800.
Paid office salaries, $7,300.
Determined that the cost of supplies on hand was $1,250; therefore, the cost of supplies used was $2,050.
Withdrew cash for personal use, $13,800.