1)November 1 Invested $40,000 cash in the business in exchange for 5,000 shares, $6 par. The cash was deposited

in the companys checking accounting with bank

2)November 1 The business purchased a building worth $58,000; paying $5,000 cash and the bank financed the

balance with a note for 10 years at 7% annual interest rate. Interest is payable annually on

November 1 of each year. The principal will be due at maturity.

3)November 1 The Company purchased Copier, Computer, and Printer from Office Equipment, Inc. for $20,000.

Terms are 1/15, n/30

Journal Entrys