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1 2 3 Transaction 4 5 69 01. 02. 03. 8 9 04. 10 11 12 133 05. 06. 14 15 07 16 17 99 08. 18 19 09. 2222 20 21 22 22 10 10 Byte of Accounting, Inc. Description of transaction Seth Robertson 2556 June 1: Byte of Accounting, Inc. issued 2,610 shares of its common stock to Jeremy after $23,100 in cash and computer equipment with a fair market value of $34,320 were received. June 1 Byte of Accounting, Inc. issued 2,297 shares of its common stock after acquiring from Courtney $36,300 in cash, computer equipment with a fair market value of $13,200 and office equipment with a fair value of $1,034 June 1: Byte of Accounting, Inc. acquired $48,400 in cash from Seth Robertson and issued 2,200 shares of its common stock June 2 A down payment of $31,000 in cash was made on additional computer equipment that was purchased for $155,000. A five-year note was executed by Byte for the balance. June 4: Additional office equipment costing $500 was purchased on credit from Discount Computer Corporation. June 8: Unsatisfactory office equipment costing $100 was returned to Discount Computer for credit to be applied against the outstanding balance owed by Byte June 10: Byte paid $23,750 on the balance it owed on the June 2 purchase of computer equipment June 14: A one-year insurance policy covering its computer equipment was purchased by Byte for $5.976 in cash. The effective date of the policy was June 16 June 16: Computer consultation revenue of $8,250 was received June 16 Byte purchased a building and the land it is on for $149,000, to house its repair facilities and to store computer equipment. The lot on which the building is located is valued at $24,000. The balance of the cost is to be allocated to the building Byte made a cash down payment of $14,900 and executed a mortgage for the balance. The mortgage is payable in eight equal annual installments beginning July 1.
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