Consider the following independent transactions: 1. On June 30, paid in advance, $8,300 for first and last month's rent. 2. On July 1 , paid in advance, $2,520 for 6 months insurance. 3. Issued $4,200 in common shares for legal services. 4. Bought a used delivery van for $20,300 and paid for it with $10,000 cash and with a $10,300 loan from the bank at 5%. The company expects to use the truck for 5 years. At the end of 5 years the company expects that the vehicle will be worthless. 5. Sold goods worth $28,900,80% of the sales were on credit and the remainder was in cash. The goods had an inventory cost $17,500. 6. Bought $8,500 of inventory on account