NARRATIVE OF TRANSACTIONS Note: Unless stated otherwise, assume that all cash in and out is checking account related) . Date Transaction Kyle opened two accounts at Pioneer State Bank, using $3,000 deposited $2,500 in a checking account and S500 into savings. 7/1 of his own money. He Kyle borrowed $6,000 from his Aunt Martha and signed a note with 8% interest. Under the terms of the note,he must make payments of S250 plus accrued interest on the first day of each month. Kyle put $4,500 into his checking account and $1,500 into savings. 72 7/3 Kyle purchased a 2006 Nissan pickup truck by writing a check for $4,820. 7/3 Kyle purchased insurance for the pickup truck at a cost of $150 per month. He paid for the 7/3 Kyle established a cell phone account for the business. The phone was free, and he paid $75 for 7/5 Kyle returned to the bank and applied for a VISA card. He received a card with a 1,000 7/5 Kyle purchased a lawn mower and garden tools on account from Young's Home &Garden 7/6 Kyle purchased $185 worth of gloves, stakes, trimmer lines, and other supplies at the local month of July. the first month's service. credit limit. Center. The total cost was $1,080. (Debit Lawn Equipment.) hardware store using his VISA card. 7/6 Kyle paid $80 cash for gas and oil for his pickup truck and the mower 7/7 A box of 500 additional checks arived from the bank along with a memo that the $25 cost was charged to Kyle's checking account. He considered this an immaterial amount and charged it all to Office Supplies Expense. Kyle had 1,500 advertising flyers printed to promote his new business. The flyers cost $225 and are considered advertising materials. He also purchased $90 of office supplies. Kyle used his VISA for all of these purchases. 7 8 One of Kyle's neighbors, Mi. Lee is leaving town for six weeks. He paid Kyle $360 to mov wn each week and keep his hedges trimmed while he is away 79 Kyle paid $75 cash to rent some equipment needed for the Abrams job (see transaction 15) ne NARRATIVE OF TRANSACTIONS Note: Unless stated otherwise, assume that all cash in and out is checking account related) . Date Transaction Kyle opened two accounts at Pioneer State Bank, using $3,000 deposited $2,500 in a checking account and S500 into savings. 7/1 of his own money. He Kyle borrowed $6,000 from his Aunt Martha and signed a note with 8% interest. Under the terms of the note,he must make payments of S250 plus accrued interest on the first day of each month. Kyle put $4,500 into his checking account and $1,500 into savings. 72 7/3 Kyle purchased a 2006 Nissan pickup truck by writing a check for $4,820. 7/3 Kyle purchased insurance for the pickup truck at a cost of $150 per month. He paid for the 7/3 Kyle established a cell phone account for the business. The phone was free, and he paid $75 for 7/5 Kyle returned to the bank and applied for a VISA card. He received a card with a 1,000 7/5 Kyle purchased a lawn mower and garden tools on account from Young's Home &Garden 7/6 Kyle purchased $185 worth of gloves, stakes, trimmer lines, and other supplies at the local month of July. the first month's service. credit limit. Center. The total cost was $1,080. (Debit Lawn Equipment.) hardware store using his VISA card. 7/6 Kyle paid $80 cash for gas and oil for his pickup truck and the mower 7/7 A box of 500 additional checks arived from the bank along with a memo that the $25 cost was charged to Kyle's checking account. He considered this an immaterial amount and charged it all to Office Supplies Expense. Kyle had 1,500 advertising flyers printed to promote his new business. The flyers cost $225 and are considered advertising materials. He also purchased $90 of office supplies. Kyle used his VISA for all of these purchases. 7 8 One of Kyle's neighbors, Mi. Lee is leaving town for six weeks. He paid Kyle $360 to mov wn each week and keep his hedges trimmed while he is away 79 Kyle paid $75 cash to rent some equipment needed for the Abrams job (see transaction 15) ne