Journal Date Transaction 7/1/2015 Put $2,000 of own money into business. 1 Received a $5,000 loan at 12% interest from SMB Bank. The interest is payable on the first of each month with principal due on July 1, 2016. 2 Purchased office supplies on account from Superhero's Warehouse for $175. Terms are net 20. 3 Purchased furniture for cash for $575 from Office Depot. 4 Purchased computer from Creative Computer for $1,500 on account. 6 Paid $300 cash for three months' insurance to State Farm Insurance. 9 Purchased advertising space in The Avengers Monthly Magazine for July and August. Total cost is $250 in cash. 12 Sold consulting to The Hulk for $175 check. 14 Sold consulting to Iron Man on account for $880. Terms are net 10. 17 Sold consulting to Hawkeye for $225. Terms are net 10. 17 Sold consulting to Thor for $1220. Terms are net 10. 18 Paid Superhero's Warehouse for required amount. 21 Sold consulting to The Hulk for $1200. Terms are net 10. 23 Received check from Iron Man for $840. 25 Received check from Thor for $1,220. 27 Sold consulting to Hawkeye for $150. Terms are net 10. 31 Counted office supplies and found $75 in supplies left. 31 Depreciation on Office equipment/furniture is $60.