CVS Health Corp. had the following transactions during January, the first month of its operations:

Issued $20,000$ shares of common stock in exchange for $$280,000.$

Purchased equipment for $$560,000,$ using a $$140,000$ cash down payment and signing a note payable for the balance

Received $$3,500$ from a customer for services to be performed in February.

Made a $$42,000$ payment on the note payable from the purchase of the equipment.

Total monthly sales: Cash sales $$105,000$ Credit Sales $($Acct$.$ Receivable$)$: $$50,400$

Purchased supplies on credit for $$44,800.$

Collected $$16,800$ from customers on account.

Paid $$3,500$ for January employee wages.

Received a utility bill for $$1,300$ which will be paid next month.