Events and Transactions}
The following list contains events that occurred during January 2018 at the local Ford dealer, Malcom Motors:

a. Windsor University (WU) signed a contract to purchase a fleet of Ford Crown Victoria vehicles from Malcom Motors at a total price of \(\$ 200,000\), payable to Malcom in two equal amounts on August 1, 2018, and September 1, 2018. The cars will be delivered to WU during August 2018 .

b. The principal shareholder in Malcom Motors sold \(10 \%\) of her shares in the company to John Lewis, the president of Malcom Motors, in exchange for \(\$ 100,000\) in cash.

c. Malcom Motors issued new shares to John Lewis in exchange for \(\$ 50,000\) in cash.

d. Malcom Motors owns the building it occupies; the company occupied the building during the entire month of January.

e. Malcom Motors owns land used for the storage of cars awaiting sale; the land was used by the company during the entire month of January.

f. Malcom Motors paid its lawyer \(\$ 1,000\) for services rendered in connection with the purchase agreement signed with Windsor University.
g. Maintenance Management Company performed cleaning services for Malcom Motors during January under a contract that does not require payment for those services until March 1, 2018.
\section*{Required:}
\section*{YOUDECIDE}
\section*{OBJECTIVE \\ 30 
1. Indicate whether each item qualifies as a transaction and should be recorded in the accounting information system. Explain your reasoning.
2. CONCEPTUAL CONNECTION What concept is illustrated by the event in item \(b\) ?