General journal entrys

01. June 1: Byte of Accounting, Inc. acquired $50,600 in cash from Lauryn and issued 2,200 shares of its common stock. 02. June 1: Byte of Accounting, Inc. issued 2,560 shares of its common stock to Joseph Tindall after $24,150 in cash and computer equipment with a fair market value of $34,730 were received. 03. June 1: Byte of Accounting, Inc. issued 2,228 shares of its common stock after acquiring from Courtney S40,250 in cash, computer equipment with a fair market value of $10,120 and office equipment with a fair value of $874. 04. June 2: A down payment of $32,000 in cash was made on additional computer equipment that was purchased for $160,000. A five-year note was executed by Byte for the balance. 05. June 4. Additional office equipment costing $500 was purchased on credit from Discount Computer Corporation. 06. June 8: Unsatisfactory office equipment costing $100 was returned to Discount Computer for credit to be applied against the outstanding balance owed by Byte 07 June 10: Byte paid $24.500 on the balance it owed on the June 2 purchase of computer equipment