01. | June 1: Hudson Bloom invested $177,633.00 cash and computer equipment with a fair market value of $42,390.00 in his new business, Byte of Accounting. |
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02. | June 1: Check # 5000 was used to purchased office equipment costing $783.00 from Office Express. The invoice number was 87417. |
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03. | June 1: Check # 5001 was used to purchased computer equipment costing $16,200.00 from Kaan Ozturk. The invoice number was 20117. |
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04. | June 2: Check # 5002 was used to make a down payment of $31,000.00 on additional computer equipment that was purchased from Royce Computers, invoice number 76542. The full price of the computer was $155,000.00. A five-year note was executed by Byte for the balance. |
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05. | June 4: Additional office equipment costing $500.00 was purchased on credit from Discount Computer Corporation. The invoice number was 98432. |
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06. | June 8: Unsatisfactory office equipment costing $100.00 from invoice number 98432 was returned to Discount Computer for credit to be applied against the outstanding balance owed by Byte. |
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07. | June 10: Check # 5003 was used to make a $23,750.00 payment reducing the prinicpal owed on the June 2 purchase of computer equipment from Royce Computers. |
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08. | June 14: Check # 5004 was used to purchase a one-year insurance policy covering its computer equipment for $5,304.00 from Seth's Insurance. The effective date of the policy was June 16 and the invoice number was 2387. |
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09. | June 16: A check in the amount of $8,250.00 was received for services performed for Pitman Pictures. |
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10. | June 16: Byte purchased a building and the land it is on for $149,000.00 to house its repair facilities and to store computer equipment. The lot on which the building is located is valued at $24,000.00. The balance of the cost is to be allocated to the building. Check # 5005 was used to make the down payment of $14,900.00. A...