Jan 1 The owner invested $70, 000 into the company in exchange for 5 , 000 shares of no- par common stock . Jan 1 Purchased a computer system for $32 , 000 . Jan 14 Purchased $1 , 200 of supplies on account . Feb 25 Invoiced clients for services provided on account , $36 , 000 . Mar 31 Paid rent for two years , $19 , 200 . April 1 The company borrowed $50 , 000 from Bank of America . May 14 Collected $8 , 500 on account . June 1 Purchase a delivery van to delivery copies to customers , the van had a purchase price of $53, 000 , taxes on the van were $5 , 000 and document charges of $1 , 500 were paid . July 31 Paid $800 on account for supplies purchased on January 14 . Aug 10 Received cash for services provided , $10 , 200 . Sept 1 Paid utilities of $ 4 , 000 . Oct 1 Received $30 , 000 in advance for services to be provided in the future . Nov 15 Paid for an ad in the local newspaper , $1 , 500 . NOV 27 Processed employee payroll and employer taxes , gross earnings was $ 4, 000 . NOV 30 Paid the employee salaries , taxes are not due until January . Dec 15 The company declared and paid $6, 000 in dividends . Dec 30 Invoiced clients for services performed totaling $9 , 000 . Dec 27 Processed employee payroll and employer taxes , gross earnings was $4 , 000. Dec 30 Paid the employee salaries , taxes are not due until January