George Littlechild,started a new kitchen and bath design business called littlechild enterprises.The following activities occured during its first month of operations. March 2020:

a.Littlechild invested $160,000 cash and office equiptment valued at $ 20,000in the business.

b. purchased a small building for $600,000 to be used as n office.Paid $100,000 in cash and signed a payable promising to pay the balance over several years.