Journalize the transactions

loses its accounts and prepares financial statements at the end of each month. During Sept (t d the following transactions Date Transaction or Event Sept 1, Year 2 25,000 shares of common stock issued in exchange for $125,000 cash Purchased all of the equipment owned by "MR ALL THUMBS The equipment that was bought had a fair market value of $300,000, but the price that the equipment was purchased for was $270.000. They signed a three-year 9% note payable and paid $110,000 cash. Sept 1. Year 2 Sept I. Year 2Paid rent to Liacouras Realty Company for 3 months of $12,000 Sept 4. Year 2Purchased from-Office Max office supplies worth $1.750 on They are occupying the same space as "MR ALL THUMBS." Sept 5, Year 2 Sept 8, Year 2 Sept 12, Year 2 account. Payment terms are 2/10 net 30. They expect that these supplies will last for several months. Hired a new secretary/assistant, his annual salary is $32.000 per year plus a benefit package that is annually worth $7,000. Received an advance payment from Digger ODell Co. $11,000 cash. Use a liability account. Paid the salaries for the first two weeks of Sept. $5,250 Sept 15. Year 2 Excluding the advance from Digger ODell Company. $10,000 was earned. The amount of cash received was $6,000 The remaining $4000 is recorded as Account Receivable Terms are net 10 Sept I1. Year 2 Purchased repair parts from Caterpillar Inc that are worth $500