NARRATIVE OF TRANSACTIONS Note: Unless stated otherwise, assume that all cash in and out is checking account related) Date Transaction Kyle opened two acco unts at Pioneer State Bank, using $3,000 of his own money. He 7/1 deposited $2,500 in a checking account and S500 into savings. 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 72 month. Kyle put $4,500 into his checking account and $1,500 into savings. 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 A box of 500 additional checks arrived 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. 7/7 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. 77 Kyle 78One of Kyle's neighbors, Mi. Lee is leaving town for six weeks. He paid Kyle $360 to mov his lawn each week and keep his hedges trimmed while he is away. 719 Kyle paid $75 cash to rent some equipment needed for the Abrams job (setransaction 15). some equipment