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Date Transaction Amount 1/1/2016 Started business with cash as capital 100,000 2/1/2016 Purchased furniture for cash 20,000 3/1/2016 Paid rent 5,000 The cost of equipments

Date

Transaction

Amount

1/1/2016

Started business with cash as capital

100,000

2/1/2016

Purchased furniture for cash

20,000

3/1/2016

Paid rent

5,000

The cost of equipments is $ 27,000, its estimated residual value is $2,000, and its estimated life is 5 years.

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