6 Question 4. In August 2021, Supreme Athletics was established in Lafayette, LA to sell top of the line athletic equipment to individual and commercial customers across the US. Luke Scott and Makenzie Lee are the major stockholders in the corporation August 1 Stockholders (Scott & Lee) invested $120,000 cash in the business 3 Purchased a computer system for use in the business for $12,000, paid $5,000 down and signed a year note for the balance Hired Silas Johnson as a salesperson 13 Purchased supplies for $2,600 on account 17 Paid $8,000 for a one-year insurance policy. 20 Paid $3,000 to advertise the opening of their business 26 Sold $16,000 of athletic equipment on account. The cost of the equipment sold was $9.500 27 Declared and paid a $1,000 cash dividend. 28 Paid $6,000 rent for the month. 29 Collected $14,000 from customers billed on August 26. 30 Paid receptionist $1,500 for August Debit Credit Ref Date Account Titles