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Desiree Clark is a licensed CPA. During the first month of operations of her business, the following events and transactions occurred. may 1 Clark invested 20,000 cash in her business may 2 Hired a secretary-receptionist at a salary of $2,000 per month may 3 Purchased $2,500 of supplies on account from Read Supply Company May 7 Paid office rent $900 cash for the month May 11 Completed tax assignment and billed client $3,200 May 12 Received $3,500 advance on management consulting engagement may 17 Received cash of $1,200 fir services completed of C. Desmond Co. may 31 Paid Secretary-receptionist $2,000 salary for the month May 31 paid 60% of balance due Read Supply Company

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