In August 2023, Supreme Athletics was established in Lafayette, LA to provide top of the line athletic equipment to local athletes. Luke Scott and Makenzie Lee are the major stockholders in the corporation.

August 1 Stockholders (Scott & Lee) invested $120,000 cash in the business.

3 Paid cash for equipment for use in the business for $12,000.

6 Hired Silas Johnson as a salesperson.

13 Purchased supplies for $2,600 on account.

17 Paid $8,000 for a one-year insurance policy to begin on September 1.

20 Paid $3,000 to advertise the opening of their business.

26 Sold $16,000 of athletic equipment on account. The cost of the equipment sold was $9,500.

Date	Account Titles	Ref	Debit	Credit