Given Below Are the Daily Balances in the Accounts of Travel

question 57

Essay

Given below are the daily balances in the accounts of Travel Tips,Inc..Assuming only one transaction occurred each day,explain the nature of each transaction from June 1 to June 10.
$\begin{array}{l}\begin{array} {llll} &\text { Cash } &\text { Receivable } \\\text { Bal. } & \$6,000 & \$3,000 \\\text { June 1 } & 6,000 & 3,000 \\\text { June 2 } & 6,600 & 2,400 \\\text { June 3 } & 5,800 & 2,400 \\\text { June 4 } & 6,900 & 2,400 \\\text { June 5 } & 5,600 & 2,400 \\\text { June 6 } & 5,600 & 2,400 \\\text { June 7 } & 6,100 & 3,700 \\\text { June 8 } & 4,000 & 3,700 \\\text { June 9 } & 3,200 & 3,700 \\\text { Iune 10 } & 3,200 & 3,700\end{array}\begin{array} { llll } \text { Inventory } & \text { Equipment } \\\$ \$ 8,000 & \$ 7,000 \\8,700 & 7,000 \\8,700 & 7,000 \\8,700 & 7,000 \\8,700 & 7,000 \\8,700 & 9,600 \\8,200 & 9,600 \\8,200 & 7,800 \\8,200 & 7,800 \\9,000 & 7,800 \\9,000 & 9,500\end{array}\begin{array} { llll } \text { Accounts Payable } & \text { Owner Capital } \\\$ 4,000 & \$ 20,000 \\4,700 & 20,000 \\4,700 & 20,000 \\3,900 & 20,000 \\3,900 & 21,100 \\5,200 & 21,100 \\4,700 & 21,100 \\4,700 & 21,100 \\4,700 & 19,000 \\4,700 & 19,000 \\4,700 & 20,700\end{array}\end{array}$

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