230 Summer 2023 online # Date 1/1/23 1 2 3 4 5 1/1/23 1/1/23 1/1/23 1/1/23 Each account posts on one single line for each Debit or Credit entered T-Transaction Reference Account Name $ Debit Entry $ Credit Entry Sells (Issues) $150,000 of Common Stock to shareholders for cash Pays $9,000 for 12 months of space rent starting on January 1st Purchases supplies worth $3,500 on account Company purchases a building borrowing from the bank by signing a 4-year note payable for $300,000 at 6% annual interest and in addition the Company also pays an additional $30,000 cash down payment to the seller. The building has a 25 year life with a salvage value of $60,000. Monthly deprecataion = 330,000-60,000= 270,000/300months= $900 per month