accounting

Selected transactions for Pina Colada Company during its first month in business are as follows.

Sept. 1 Invested $13,000 cash in the business.

5 Purchased equipment for $10,000 paying $5,400 in cash and the balance on account.

25 Paid $1,700 cash on balance owed for equipment.

30 Withdrew $600 cash for personal use.

Coladas chart of accounts shows No. 101 Cash, No. 157 Equipment, No. 201 Accounts Payable, No. 301 Owners Capital, and No. 306 Owners Drawings.