For the past several years, Stefty Lopez has operated a pan-time oonsulting business trom his home. As of Juty 1, 2018, Sxefty decided to move to reted quarters and to operate the business, which was to be known as Diamond Consulting, on a ull-Sme basis. Diamond Consulting entored into the folowing transactions during Jaly Jul The tollowing assets were received from Stelly Lopez n exchange for oommon stock: cash, $13,500 acoourts recevable, S20,800; supplies, SS200; and orice equipment, $7,500 There wore nosablites eceved 1 Paid two monts rent on a lease rental contract, $4,800. 2 Paid the annual premiums oh property and casuaty insurance polcies, $4500 4 Roceived cash from clents as an advance payment for servioes to be provided, and recorded it as uneamed fees, $5,500 5 Purchased additional office equipment on accournt from Offioe Station Co, $6.500 6 Received cash from clierns on accourt, $15,320