a. The firm was organized and the stockholders invested cash of $16.000. b. The firm borrowed $10,000 from the bank, a short-term note was signed. c. Display cases and other store equipment costing $3,500 were purchased for cash. The original list price of the equipment was $3,800, but a discount was received because the seller was having a sale. d. A store location was rented, and $2,800 was paid for the first month's rent. e. Inventory of $30,000 was purchased: $18,000 cash was paid to the suppliers, and the balance will be paid within 30 days f. During the first week of operations, merchandise that had cost $8,000 was sold for $13,000 cash. g. A newspaper ad costing $200 was arranged for, it ran during the second week of the store's operations. The ad will be paid for in the next month h. Additional inventory costing $8,400 was purchased cash of $2,400 was paid, and the balance is due in 30 days I. In the last three weeks of the first month sales totaled $27,000, of which $19.200 was sold on account. The cost of the goods sold totaled $18,000 j. Employee wages for the month totaled $3,700; these will be paid during the first week of the next month. k. The firm collected a total of $6,320 from the sales on account recorded in transaction i. 1. The firm paid a total of $9.440 of the amount owed to suppliers from transactione a. The firm was organized and the stockholders invested cash of $16.000. b. The firm borrowed $10,000 from the bank, a short-term note was signed. c. Display cases and other store equipment costing $3,500 were purchased for cash. The original list price of the equipment was $3,800, but a discount was received because the seller was having a sale. d. A store location was rented, and $2,800 was paid for the first month's rent. e. Inventory of $30,000 was purchased: $18,000 cash was paid to the suppliers, and the balance will be paid within 30 days f. During the first week of operations, merchandise that had cost $8,000 was sold for $13,000 cash. g. A newspaper ad costing $200 was arranged for, it ran during the second week of the store's operations. The ad will be paid for in the next month h. Additional inventory costing $8,400 was purchased cash of $2,400 was paid, and the balance is due in 30 days I. In the last three weeks of the first month sales totaled $27,000, of which $19.200 was sold on account. The cost of the goods sold totaled $18,000 j. Employee wages for the month totaled $3,700; these will be paid during the first week of the next month. k. The firm collected a total of $6,320 from the sales on account recorded in transaction i. 1. The firm paid a total of $9.440 of the amount owed to suppliers from transactione