Compute the amount of net income or net loss for this first month of operations.
a. Barlow deposited $10,000 cash in a business bank account, and the corporation issued common stock to him.
b. Borrowed $5,000 cash from the bank and signed a note payable due within 1 year.
c. Paid $300 cash for supplies.
d. Purchased advertising in the local newspaper for cash, $800.
e. Purchased office furniture on account, $4,400.
f. Paid the following cash expenses for 1 month: employee salary, $1,700; office rent, $600.
g. Earned revenue on account, $7,000.
h. Earned revenue and received $2,500 cash.
I. Collected cash from customers on account, $1,200.
j. Paid on account, $1,000.
And what is the journal entry of "c"? Please help me
