On June 1, 2017, Waterway Industries was started with an initial investment in the company of $22,270 cash. Here are the assets, liabilities, and common stock of the company at June 30, 2017, and the revenues and expenses for the month of June, its first month of operations: Cash $ 5,500 Notes payable $13,800
Accounts receivable 4,490 Accounts payable 990
Service revenue 8,400 Supplies expense 1,060
Supplies 2,340 Maintenance and repairs expense 660
Advertising expense 400 Utilities expense 240
Equipment 26,900 Salaries and wages expense 2,300
Common stock 22,270
In June, the company issued no additional stock but paid dividends of $1,570.