Erin Murdoch, an architect, organized Modern Architects on January 1, 204. During the month, Modern Architects completed the following transactions: Issued common stock to Erin Murdoch in exchange for $50,000 Paid January rent for office and workroom, $3,000 Purchased used automobile for $30,000, paying $7,500 cash and giving a note payable for the remainder.Purchased office and computer equipment on account, $9,500Paid cash for supplies, $1,800. f. Paid cash for annual insurance policies, $3,600 9. Received cash from client for plans delivered, $10,500. h. Paid cash for miscellaneous expenses, $1,500 1. Paid cash to creditors on account, $5,000 j. Paid installment due on note payable, $750.Received invoice for blueprint service, due in February