Jack Brown founded a new company, Micro Dots, which sells microchips for computers. The company was started on January 1, 2022. The following transactions occurred during the month of January:January 1 Jack invested $20,000 cash and a $40,000 piece of machinery in the business.January 5 Purchased office furniture by paying $4,000 cash.January 6 Purchased supplies costing $600 on account from Staples. They are to be paid within 15 days.January 15 Sold 5,000 microchips for $40,000 to a customer who paid in cash.January 17 - Returned $100 in supplies to Staples for credit.January 20 Sold another 2,000 microchips for $16,000 to a customer on credit.January 21 Paid Staples in full.January 23 - Paid for rent on the building in cash $2,500.January 24 - Received a bill from Hydro One $500 for utilities, this is to be paid by February 15, but is not yet paid.January 25 Received $10,000 cash from the customer in transaction f. They will pay the remaining $6,000 in February.January 31 Jack Brown withdrew $5,000 from the business for personal use.