=+Black Gold Tea Exploration Co. was established on March 15, 2010, to provide oildrilling services. Black Gold Tea uses field equipment (rigs and pipe) and field supplies

(drill bits and lubricants) in its operations. Transactions related to purchases and cash payments during the remainder of March are as follows:

Mar. 16. Issued Check No. 1 in payment of rent for the remainder of March, $5,000.

16. Purchased field equipment on account from PMI Sales Inc., $29,400.

17. Purchased field supplies on account from Culver Supply Co., $9,320.