1. Jan 1 Issued 10,000 shares of common stock for $50,000 cash. 2. Jan 2 Purchased $60,000 of office equipment by paying $5,000 cash and by signing a one-year, 10% interest-bearing note payable for the remaining balance. 3. Jan 3 Purchased $3,000 supplies on account. Hint: Debit Supplies. 4. Jan 4 Performed $4,000 of legal services on account. 5. Jan 6 Received a $1,500 cash deposit from a new client for legal work to commence next month. 6. Jan 10 Paid $5,000 cash for a 12-month insurance policy. Tab navigation