cybertext

Transaction

Description of transaction

$01.$

June $1$: Hudson Bloom invested $$143,550\mathrm{.}00$ cash and computer equipment with a fair market value of $$37,000\mathrm{.}00$ in his new business, Byte of Accounting.

$02.$

June $1$: Check # $5000$ was used to purchased computer equipment costing $$15,000\mathrm{.}00$ from Alain Amores. The invoice number was $20117.$

$03.$

June $1$: Check # $5001$ was used to purchased office equipment costing $$800\mathrm{.}00$ from Office Express. The invoice number was $87417.$

June $2$: Check # $5002$ was used to make a down payment of $$35,000\mathrm{.}00$ on additional computer $04.$ equipment that was purchased from Royce Computers, invoice number $76542.$ The full price of the computer was $$175,000\mathrm{.}00.$ A five$-$year note was executed by Byte for the balance.

$05.$

June $4$: Additional office equipment costing $$400\mathrm{.}00$ was purchased on credit from Discount Computer Corporation. The invoice number was $98432.$

$06.$

June $8$: Unsatisfactory office equipment costing $$80\mathrm{.}00$ from invoice number $98432$ was returned to Discount Computer for credit to be applied against the outstanding balance owed by Bvte.

$07.$

June $10$: Check # $5003$ was used to make a $$26,750\mathrm{.}00$ payment reducing the principal owed on the June $2$ purchase of computer equipment from Rovce Computers.

June $14$: Check # $5004$ was used to purchase a one$-$year insurance policy covering its computer $08.$ equipment for $$5,808\mathrm{.}00$ from Seth's Insurance. The effective date of the policy was June $16$ and the invoice number was $2387.$

$09.$

June $16$: A check in the amount of $$8,250\mathrm{.}00$ was received for services performed for Pitman Pictures.

June $16$: Byte purchased a building and the land it is on for $$101,000\mathrm{.}00$ to house its repair facilities and to store computer equipment. The lot on which the building is located is valued at

$10.$ $$16,000\mathrm{.}00.$ The balance of the cost is to be allocated to the building. Check # $5005$ was used to make the down payment of $$10,100\mathrm{.}00.$ A thirty year mortgage with an inital payement due on August $1$st$,$ was established for the balance.