EZ Curb Company completed the following transactions during 2010. The annual accounting period ends December 31, 2010.

Jan. 8	Purchased merchandise on account at a cost of $14,000. (Assume a perpetual inventory system.)
17	Paid for the January 8 purchase.
Apr. 1	Received $40,000 from National Bank after signing a 12-month, 6 percent, promissory note.
June 3	Purchased merchandise on account at a cost of $18,000.
July 5	Paid for the June 3 purchase.
Aug. 1	Rented out a small office in a building owned by EZ Curb Company and collected six months