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Prepare a tabular summary of the transactions

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Question - John Anderson opens his law office on June 1, 2013. During the first month of operation, the following transaction occurred:

June 1 Invested $ 10,000 in cash in the law practice.

June 3 Purchased office equipment $ 28,000 of which $ 3,000 paid in cash and the remaining on account.

June 16 Borrowed $ 7,000 cash from a bank on a note payable.

June 20 Performed legal services for client on account $ 5000.

June 28 Paid monthly expenses: salaries $1,500 and utilities $ 2,000.

June 30 Withdraw cash from the business $2,000.

Requirement - Prepare a tabular summary of the transactions and an income statement for the month of June 30. Use the following format for tabular summary.

Reference no: EM132913563

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