Reference no: EM132808847

June

1. 1 Ian Lee invested $20,000 cash in the business.
2. 2 Issued Check 1001 for $2,000 to pay the June rent.
3. 5 Purchased desks and other office furniture for $9,500 from Office Supply, Inc.; received Invoice 5312, payable in 60 days.
4. 6 Issued Check 1002 for $2,100 to purchase photographic equipment.
5. 7 Purchased supplies for $550; paid with Check 1003.
6. 10 Issued Check 1004 for $800 for office cleaning service.
7. 12 Performed services for $2,600 in cash and $2,600 on credit. (Use one compound entry.)
8. 15 Returned damaged supplies; received a $180 cash refund.
9. 18 Purchased a computer for $2,250 from Dallas Office Supply, Invoice 304; issued Check 1005 for a $500 down payment. The balance is payable in 30 days. (Use one compound entry.)
10. 20 Issued Check 1006 for $2,500 to Office Supply, Inc., as payment on account for office furniture, Invoice 5312.
11. 26 Performed services for $2,500 on credit.
12. 27 Paid $632 for monthly telephone bill; issued Check 1007
13. 30 Received $2,300 in cash from credit clients on account.
14. 30 Issued Check 1008 to pay the monthly utility bill of $750.
15. 30 Issued Checks 1009-1011 for $6,550 for salaries

Problem 1: What was the cash account balance after the transaction of June 27 was recorded?