1. The firm borrowed $25,000 for working capital purposes; a short-term note was signed. 2. Owners invested S100,000 cash into the company. 3. A building was purchased for $250,000 with $50,000 cash and $200,000 long term mortgage loan. 4. Equipment (fixed assets) was purchased for $15,000 cash. 5. Inventory of $18,500 was purchased on account 6. Bulk paper supplies- prepaid supplies- (copy pape r, letterhead, envelopes, etc.) were purchased for $2,500 with cash. 7. Inventory that cost $7,000 was sold to customers for $15,000 cash. 8. Inventory of $9,300 was purchased; cash of $5,000 was paid and the balance is due in 30 days. 9. It was determined that $600 of the supplies previously purchased was used in the normal course of business for the month of October. 10. Inventory that cost $9,000 was sold to a customer for $16,000 on account 11. Cash of $8,000 was received from customers that had previously purchased items on credit 12. Interest Expense of $1,000 needs to be accrued on October 31st. 13. Employee wages of $7,000 were not paid and must be accrued for October 14. Utilities expense of $900 for the month of October was due at the end of the month, but has not been paid, so it needs to be accrued. 15. Insurance for the month of October amounting to $400 was paid on October 30th. 16. Depreciation of $800 needs to be recorded at the end of the month. (Consider this the total depreciation, no need to delineate between the building and equipment.) 17. Advertising expenses of $1,100 were incurred, though not paid in October 18. Internet/telephone expenses of $600 were incurred, though not paid in October