Sanyu Sony started a new business and completed these transactions during December.
Dec. 1 Sanyu Sony transferred $65,000 cash from a personal savings account to a checking account in the name of Sony Electric.
2 The company rented office space and paid SI,OOO cash for the December rent.
3 The company purchased $13,000 of electrical equipment by paying S4,800 cash and agreeing to pay the S8,200 balance in 30 days.
5 The company purchased office supplies by paying $800 cash.
6 The company completed electrical work and immediately collected $1,200 cash for these services.
8 The company purchased $2,530 of office equipment on credit.
15 The company completed electrical work on credit in the amount of $5,000.
18 The company purchased S350 of office supplies on credit.
20 The company paid $2,530 cash for the office equipment purchased on December 8.
24 The company billed a client $900 for electrical work completed; the balance is due in 30 days.
28 The company received $5,000 cash for the work completed on December 15.
29 The company paid the assistant's salary of $1,400 cash for this month.
30 The company paid $540 cash for this month's utility bill.
31 Sanyu Sony withdrew $950 cash from the company for personal use.
Prepare an income statement, statement of rettained earings, balance sheet, and statement of cash flows for the current month.
