J K Builders was incorporated on July 1 a Received S79,000 cash invested by owners and issued common stock b Bought an unused field from a local farmer by paying $69,000 cash As a construction site for smaller projects, it is estimated to be worth $74,000 to J K Builders c A lumber supplier delivered lumber supplies to J K Builders for future use The lumber supplies would have normally sold for $19,000, but the supplier gave J K Builders a 12 percent discount J K Builders has not yet received the $16,720 bill from the supplier d Borrowed $34,000 from the bank with a plan to use the funds to build a small workshop in August The loan must be repaid in two years One of the owners sold $19,000 worth of his common stock to another shareholder for $20,000 e

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J K  Builders was incorporated on July 1 a  Received S79,000 cash invested by owners and issued common stock  b  Bought an unused field from a local farmer by paying $69,000 cash  As a construction site for smaller projects, it is estimated to be worth $74,000 to J K  Builders c  A lumber supplier delivered lumber supplies to J K  Builders for future use  The lumber supplies would have normally sold for $19,000, but the supplier gave J K  Builders a 12 percent discount  J K Builders has not yet received the $16,720 bill from the supplier  d  Borrowed $34,000 from the bank with a plan to use the funds to build a small workshop in August The loan must be repaid in two years  One of the owners sold $19,000 worth of his common stock to another shareholder for $20,000  e

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J.K. Builders was incorporated on July 1 a. Received S79,000 cash invested by owners and issued common stock. b. Bought an unused field from a

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