Byte of Accounting, Inc. Mason Sullivan 4160 Description of transaction June 1: Byte of Accounting, Inc. acquired $62,400 in cash from Lauryn and issued 2,600 shares of its common stock 01 June 1: Byte of Accounting, Inc. issued 2,640 shares of its common stock to Mason Sullivan 02. after $26,880 in cash and computer equipment with a fair market value of $36,480 were received. June 1: Byte of Accounting, Inc. issued 2,542 shares of its common stock after acquiring from 03. Courtney $49,200 in cash, computer equipment with a fair market value of $11,040 and office lequpment with a fair value of $768 2: A down payment of $30,000 in cash was made on additional computer equipment that was purchased for $150,000, A five-year note was executed by Byte for the balance. o5 une 4 Aditional ofice qaipment costing $300 was purchased on credit from Discount 6 une 8: Unsatisfactory office equipment costing $60 was returned to Discount Computer for 04. June 4: Additional 05. Corporation 06. cradt to be applied against the outstanding balance owed by Byte. June 10: Byte paid $23,000 on the balance it owed on the June 2 purchase of computer 07, 8 June 14: A one-year insurance policy covering its computer equipment was purchased by Byte for $4.968 in cash. The effective date of the policy was June 16 0un 16 A check in the amount of $8.250 was received for consulting revenue June 16: Byte purchased a building and the land it is on for $119,000, to house its repair facilities and to store computer equipment. t. The lot on which the building is located is valued 10. at $19,000. The balance of the cost is to be allocatod to the building. Byte made a cash down payment of $11,900 and executed a mortgage for the balance. The mortgage is payable in ight equal annual installments beginning July 1 17: Cash of $9,600 was paid for rent for Junc, July, August and September. 11. amu 12 June 17: Received a bill of $375 from the local newspaper for advertising 13. June 21: Accounts payable in the amount of $240 were paid. 14. June 21: A fax machine for the office was purchased for $725 cash. Put the total nsvillu2 noaM oi loote 0mm 2 eonda Ota,S bouza .onl egnimuoooAO ora : 1 onul bovisoo