Jon Conlin, CPA, was an accourtant and a partner in a large firm. Recently he resigned his postion to open hir as a proprietorship.

The following ecents took place during the orgarizing phase of hes new buseness and its fret month of operation

$($Click the icon to view the transactions.$)$

Required

Requirement $1.$ Classify each of the everits as one of the following $($Type a$,$ b$,$ or c for each event.$)$

a$.$ A business transaction to be accounted for by the business.

b$.$ A business$-$relatod event but not a transaction to be accounted for by the business at this time

c$.$ A personal trarsaction not to be accounted for by the business.

Jul. $4$ e Conlin roceived $$100,000$ cash from his former partners in the firm from which he resigned.

$5$ a Conlin imvested $$50,000$ cash in his business.

$5$ a The business paid office rent expense for the month of July, $$3,000.$

$6$ a The business paid $$1,000$ cash for ietterhead stationery for the office.