It is 2078 and you are about to retire , but before doing so , decided to start a optician ( eye glasses ) practice , to service patients in space . You call the business Eye People Inc.

( a ) On July 1 , 2077 : You Invested $ 20,000,000 into the corporation's bank account receiving common shares .

REQUIRED : What type of business is this . Record the entry for this transaction .

( b ) On July 1 , 2077 you also purchased $ 2,000,000 in glasses you intends to resell , and $ 9,000,000 of contacts ( which don't fly off in space ) for resale . You also purchased $ 1,600,000 in fixtures and $ 2.222 for a used iMac computer for your office in the bustling metroplois of Kakabeka Falls , Ontario .

REQUIRED :Record the entry for this transaction

( c ) You sold lots of eye glasses during the year however did not take detailed records . You found two outstanding bills when cleaning off his mess of a desk : $ 2,000 for flying eyeglasses for resale purchased on June 18 , 2078 , and for fixtures dated June 1 , 2078 54, 200

REQUIRED : Record the entry for this transaction .