May

$6$

SmithSmith invested $ $145$ comma $000$$$145,000$ in the$$ business, which in turn issued its common stock to her.

MayMay

$9$

The business paid cash for land costing $ $67$ comma $000$$$67,000.$ SmithSmith plans to build an office building on the land.

MayMay

$12$

The business purchased medical supplies for $ $2$ comma $400$$$2,400$ on account.

MayMay

$15$

Dr$.$ Laura SmithLaura Smith$,$P$.$C$.,$ officially opened for business.

MayMay

$15-31$

During the rest of the$$ month, SmithSmith treated patients and earned service revenue of $ $9$ comma $900$$$9,900,$ receiving cash for half the revenue earned.

MayMay

$15-31$

The business paid cash$$ expenses: employee$$ salaries, $ $3$ comma $300$$$3,300$; office$$ rent, $ $1$ comma $000$ ;$$1,000$; $$utilities$,$ $ $1$ comma $000$$$1,000.($Record the cash amount as a total and identify and record any other amounts$$ separately.$)$

MayMay

$31$

The business sold supplies to another physician for cost of $ $900$$$900$ and received cash.

MayMay

$31$

The business borrowed $ $37$ comma $000$$$37,000,$ signing a note payable to the bank.

MayMay

$31$

The business paid $ $600$$$600$ on account.