Ben Kailin’s Law Firm had the following transactions during…
Ben Kailin’s Law Firm had the following transactions during June: Ben invested $13,800 cash in the business in exchange for common stock. Ben contributed $23,000 of furniture and equipment to the business. The company paid $2,400 cash for an insurance policy covering the next 24 months. The company received $6,000 cash for services provided during June. The company purchased $6,500 of office equipment on credit. The company provided $3,050 of services to customers on account. The company paid cash of $1,800 for monthly rent. The company paid $3,400 on the office equipment purchased in transaction #5 above. Paid $305 cash for June utilities. Based on this information, the balance in the cash account at the end of June would be: