During July, 2020, the following transactions occurred: 1) July 1 - Tom Smith purchased 1,000 common stock for $20,000 cash. 2) July 1 Signed a 1-year lease on a warehouse and paid July rent in the amount of $1,000. 3) July 1 Purchased truck for $6,000, paying $3,000 cash and the balance on a note payable. The note payable is considered long term because it does not mature until December 31, 2023.4) July 3 purchased computer supplies for $4,300 on account. These supplies represent inventory and a resource available to the company. 5) July 5 - purchased a one-year liability insurance policy effective July 1, 2020 for $6,000.6) July 12 sold $2,500 of computer supplies to customer on account. The computer supplies had a cost of $ 1,000. Smiths Computer Supply Warehouse uses the perpetual inventory system.7) July 18 - paid $1,000 cash on amount owed on truck. $200 represents interest and $800 represents principal. 8) July 19 paid $2,800 on amount owed for computer supplies purchased on July 3. 9) July 20 - paid $800 cash for employee salaries.10) July 22 - collected cash from customers billed on July 12.11) July 25 sold $3,000 of computer supplies to customer on account. The computer had a cost of $ 1,200. Smiths Computer Supply Warehouse uses the perpetual inventory system.12) July 28 - paid gas and oil bill for the month on the truck in the amount of $200.13) July 29 paid utility bill for warehouse in the amount of $250.14) July 31 - paid a dividend to Tom Smith in the amount of $900.15) July 31 - Collected $1,200 in advance from a customer for computer supplies to be delivered in August, 2020.