General Journal Entry

June 10: Check # 5003 was used to make a $27,500.00 payment reducing the prinicpal owed on the June 2 purchase of computer equipment from Royce Computers. June 14: Check # 5004 was used to purchase a one-year insurance policy covering its computer 09. equipment for $5,304.00 from Seth's Insurance. The effective date of the policy was June 16 and the invoice number was 2387. 10. June 16: Checks in the amount of $7,750.00 were received for services performed for cash customers. June 16: Byte purchased a building and the land it is on for $107.000.00 to house its repair facilities and to store computer equipment. The lot on which the building is located is valued at $17,000.00. The balance 11. of the cost is to be allocated to the building. Check # 5005 was used to make the down payment of $10.700.00. A thirty year mortgage with an inital payement due on August 1st, was established for the balance. in June 17: Check # 5006 for $8,000.00 was paid for rent of the office space for June, July, August and 12. September June 17: Received invoice number 26354 in the amount of $450.00 from the local newspaper for 13. advertising 14. June 21: Accounts payable in the amount of $320.00 were paid with Check # 5007