General Journal Entry.

Transaction Description of transaction 01. June 1: Lauryn made an investment in Byte of Accounting, Inc. by purchasing 5,250 shares of its common stock for $157,552.50 cash. The par value of the common stock was $0.01 per share. 02. June 1: Wiktor Figiel made an investment in Byte of Accounting, Inc., by purchasing 2,600 shares of its common stock paying $32,410.80 in cash and by contributing computer equipment with a fair market value of $45,615.20. The par value of the common stock was $0.01 per share. 03. June 1: Courtney made an investment in Byte of Accounting, Inc., by purchasing 546 shares of its common stock by contributing computer equipment with a fair market value of $15,605.20 and office equipment with a fair value of $780.26. The par value of the common stock was $0.01 per share. 04. June 2: Check # 5002 was used to make a down payment of $27,000.00 on additional computer equipment that was purchased from Royce Computers, invoice number 76542. The full price of the computer was $135,000.00. A five-year note was executed by Byte for the balance. 05. June 4: Additional office equipment costing $700.00 was purchased on credit from Discount Computer Corporation. The invoice number was 98432. 06. June 8: Unsatisfactory office equipment costing $140.00 from invoice number 98432 was returned to Discount Computer for credit to be applied against the outstanding balance owed by Byte. 07. June 8: Purchased office supplies for $1,750.00 from Staples on account. The invoice number was 61298. Included in the purchase was 10 units of Super RoutePro at a cost of $35.00 each. 08. June 10: Check # 5003 was used to make a $20,750.00 payment reducing the principal owed on the June 2 purchase of computer equipment from Royce Computers. 09. June 14: Check # 5004 was used to purchase a one-year insurance policy covering its computer equipment for $6,480.00 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 $7,250.00 were received for services performed for cash customers. 11. June 16: Byte purchased a building and the land it is on for $149,000.00 to house its repair facilities and to store computer equipment. The lot on which the building is located is valued at $24,000.00. The balance of the cost is to be allocated to the building. Check # 5005 was used to make the down payment of $14,900.00. A thirty year mortgage with an inital payement due on August 1st, was established for the balance. 12. June 17: Check # 5006 for $7,500.00 was paid for rent of the office space for June, July and August. 13. June 17: Received invoice number 26354 in the amount of $475.00 from the local newspaper for advertising. Transaction Description of transaction 01. June 1: Lauryn made an investment in Byte of Accounting, Inc. by purchasing 5,250 shares of its common stock for $157,552.50 cash. The par value of the common stock was $0.01 per share. 02. June 1: Wiktor Figiel made an investment in Byte of Accounting, Inc., by purchasing 2,600 shares of its common stock paying $32,410.80 in cash and by contributing computer equipment with a fair market value of $45,615.20. The par value of the common stock was $0.01 per share. 03. June 1: Courtney made an investment in Byte of Accounting, Inc., by purchasing 546 shares of its common stock by contributing computer equipment with a fair market value of $15,605.20 and office equipment with a fair value of $780.26. The par value of the common stock was $0.01 per share. 04. June 2: Check # 5002 was used to make a down payment of $27,000.00 on additional computer equipment that was purchased from Royce Computers, invoice number 76542. The full price of the computer was $135,000.00. A five-year note was executed by Byte for the balance. 05. June 4: Additional office equipment costing $700.00 was purchased on credit from Discount Computer Corporation. The invoice number was 98432. 06. June 8: Unsatisfactory office equipment costing $140.00 from invoice number 98432 was returned to Discount Computer for credit to be applied against the outstanding balance owed by Byte. 07. June 8: Purchased office supplies for $1,750.00 from Staples on account. The invoice number was 61298. Included in the purchase was 10 units of Super RoutePro at a cost of $35.00 each. 08. June 10: Check # 5003 was used to make a $20,750.00 payment reducing the principal owed on the June 2 purchase of computer equipment from Royce Computers. 09. June 14: Check # 5004 was used to purchase a one-year insurance policy covering its computer equipment for $6,480.00 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 $7,250.00 were received for services performed for cash customers. 11. June 16: Byte purchased a building and the land it is on for $149,000.00 to house its repair facilities and to store computer equipment. The lot on which the building is located is valued at $24,000.00. The balance of the cost is to be allocated to the building. Check # 5005 was used to make the down payment of $14,900.00. A thirty year mortgage with an inital payement due on August 1st, was established for the balance. 12. June 17: Check # 5006 for $7,500.00 was paid for rent of the office space for June, July and August. 13. June 17: Received invoice number 26354 in the amount of $475.00 from the local newspaper for advertising