Clayton Computers was started in 2014. The company experienced the following accounting events during its first year of operation.

1.	Started business when it acquired $83,000 cash from the issue of common stock.
2.	Purchased merchandise with a list price of $67,000 on account, terms 3/10, n/30.
3.	Paid off one-half of the accounts payable balance within the discount period.
4.	Sold merchandise on account that had a list price of $54,400. Credit terms were 2/20, n/30. The merchandise had cost Clayton Computers $32,600.
5.	Collected cash from the account receivable within the discount period.
6.	Paid $9,900 cash for operating expenses.
7.	Paid the balance due on accounts payable. The payment was not made within the discount period.