On June 1, 2022, Wildhorse Co. was started with an initial investment in the company of $19,750 cash. Here are the assets, liabilities, and common stock of the company at June 30, 2022, and the revenues and expenses for the month of June, its first month of operations:
Cash $4,960 Notes payable $12,720
Accounts receivable 4,340 Accounts payable 840
Service revenue 7,900 Supplies expense 860
Supplies 2,291 Maintenance and repairs expense 700
Advertising expense 400 Utilities expense 200
Equipment 24,800 Salaries and wages expense 1,000
Common stock 19,750
Required:
During June. the company issued no additional stock but paid dividends of $1,372
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On June 1, 2022, Wildhorse Co. was started with an initial investment in the company of $19,750 cash...
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